Six stocks listed in October are already multibaggers with gains of up to 340% from their issue prices; check full list

Goyal Salt emerged as the frontrunner in this lineup. The stock, which went public on October 11, 2023, enjoyed a great debut, opening at an almost 242% premium at 130 compared to the issue price of 38 apiece. Later, it ended the first day with a 258% gain at 136.

The stock has extended its bull run to date and is currently up by 340.5% from the issue price. The IPO garnered extraordinary investor interest, receiving subscription by a staggering 267 times, Trendlyne data showed.

The company is primarily engaged in the business of refining raw salts procured from sub-soil brine in the state of Rajasthan for use as industrial salts and edible salts. It refines and supplies a pure, refined, and quality range of triple-refined free-flow iodized salt, industrial salt, double-fortified salt, and triple-refined half-dry salt.

Also Read: Protean IPO listing: Share price jumps after flat debut. Buy, sell or hold?

Vishnusurya Projects and Infra is next on the list. The stock made a decent entry on October 10, 2023, on the Indian stock exchanges, listing at 76.7 as compared to the issue price of 73. 

The stock in the following 23 sessions picked up steam and rallied 170.27% to 207.30 apiece, and at current levels, it is trading 204.8% higher than its issue price. 

The company is engaged in the mining of rough stones and the manufacturing of aggregates and manufacture-sand by using crushing plants and sand washing plants. In addition to mining activities, it is engaged in EPC projects (construction and infrastructure) delivered across all key sectors, such as water, transportation, rail, resource, and institutional development.

Also Read: Multibagger IPO: Jewellery stock Senco Gold doubles allottees’ money in four months

Likewise, Newjaisa Technologies shares have gained 200% to trade at the current price of 138.65 from their issue price of 47 apiece. Newjaisa is a technology-driven direct-to-consumer refurbished IT electronics company providing quality refurbished electronics at significant discount as compared to new products. Our goal is to provide best-in-class, refurbished electronics at affordable prices.

Also Read: These four Jewellery stocks have returned up to 230% since last Diwali, What lies ahead?

Vinyas Innovative Technologies was another stock that is trading over 150% higher than its IPO price. The stock made a successful entry on October 06, opening at 330 apiece, compared to the issue price of 165. It then finished the first day at Rs. 346.5, more than 110% higher than the IPO price. The stock kept its upward trajectory further to date, trading 194% higher than its IPO price.

The company is a provider of design, engineering, and electronics manufacturing services catering to global original equipment manufacturers and original design manufacturers in the electronic industry.

Also Read: Diwali 2023: 58 mainboard IPOs, 172 SME IPOs hit the Street since last Deepavali

In a similar fashion, E Factor Experiences stock has gained strongly from its IPO price. The stock enjoyed a great debut, opening at an almost 53% premium at 115 apiece compared to the issue price of 75, and then it finished its debut trading day with a gain of 61% at 120.8 apiece.

The IPO received a huge response from investors, as it was subscribed to 68 times during the bidding period from October 06 to October 09. Taking the stock’s current market price of 171 apiece, it is trading 128% higher than its IPO price.

E Factor Experiences is engaged in providing consumers and community with event experiences, event services, technology-based permanent and semi-permanent multimedia light & sound installations, specialised turnkey event assignments, wedding management, and private and social event solutions.

Also Read: Indian IPOs remain a mixed bag with Mamaearth listing

Shares of Plaza Wires have been maintaining a strong upward trend since their listing, hitting the upper circuit limit with each passing day. The company’s shares got listed on the stock exchanges on October 13, 2023, raising 71.3 crore through the IPO.

The IPO received a tremendous response from investors, as it was subscribed to 160.98 times. The stock also enjoyed a great debut, opening at an almost 40.74% premium at 76 apiece compared to the issue price of 54. It ended the first day with a 48.5% gain at 80.2.

This positive momentum continued for the following 11 trading sessions, when the stock consistently hit the 5% upper circuit limit, resulting in a stellar gain of 70%. Considering the stock’s current value of 114.55, it is trading with a gain of 115.2% over the IPO price of 54 apiece.

Plaza Wires is engaged in the business of manufacturing and selling wires, selling and marketing of LT aluminium cables, and fast-moving electrical goods. Its key products in the wires and cables segment are building wires, also known as house wires, single and multicore round flexible industrial cables, and industrial cables for submersible pumps and motors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.


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Updated: 13 Nov 2023, 01:17 PM IST

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