Even though the Indian stock market is struggling with selling pressure, but in this period, the strength of state-based company stocks in the country is visible. We are talking about some companies in Gujarat. Some of them have recently launched IPOs. These include the public issuance of Tatva Chintan Pharma, Adani Wilmar, Ami Organics, Rolex Rings and Exxaro Tiles, which compared recently listed IPOs.
Citing a Livemint report, here we list the IPOs of 5 successful Gujarat-based companies:
1. Adani Wilmar IPO
Adani Wilmar IPO: Its public offering was offered at Rs 218 to Rs 230 per share. It was listed at Rs 221 on BSE and Rs 227 on NSE. However, after that, there was a strong rally in Adani Wilmar shares and reached a lifetime high of Rs 878 per share and yielded around 280% return on the upper range of the issue price. Adani Wilmar’s share is currently at Rs 645, which is 180% above the issue price.
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2. Aimee Organics IPO
Ami Organics IPO: This stock floated on the stock market at a high premium of 50%. Shares of Ami Organics were listed at Rs.910 on NSE against issue price of Rs.603-610. After listing, shares of Ami Organics reached a lifetime high of Rs 1,434.45, up around 135% from the upper price range of Rs 610. The stock is currently trading at Rs 895.
3. IPO of Rolex Rings
Rolex Rings IPO: The share was listed on NSE at Rs 1,250 against the price range of Rs 880-900 per share. After listing, Rolex Rings stock hit a lifetime high of 1,624.60 NSE, 80% above the issue price. The stock is currently trading at Rs 1,447, up 60% from the issue price.
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4. Tattva Chintan IPO
Tatva Chintan IPO: This stock made its strong debut in the Indian market at a premium of 95%. It was listed at Rs 2,11.85 on NSE against Rs 1,083 per share. After listing, the stock hit a lifetime high of 2,977.80 rupees on NSE, 175% above the issue price. Shares of Tatva Chintan are currently trading at Rs 2,215, which is 105% above the issue price.
5. IPO of Axaro Tiles
Exxaro Tiles IPO: Its price range was kept at Rs 118-120 per share. On August 16, the issue was listed on BSE at Rs 126. Exaro Tiles stock hit a lifetime high of Rs 172.70, 44% above the issue price. Today, the stock is trading at Rs 110.
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