Stocks that nearly doubled investors money on listing this month

These stocks made a strong debut on the exchanges

2 min read . Updated: 29 Jul 2021, 10:43 AM IST Livemint

Tatva Chintan shares made its stock market debut on Thursday by listing at a 95% premium over issue price of ₹1,083 a piece

July has been the busiest month in terms of initial public offerings (IPOs) with many new stocks making strong debut on the Indian exchanges led by strong response from investors, especially by retail individuals. Clean Science, GR Infra and the new entrant Tatva Chintan are the recent examples of doubling investors money on their listing days as the respective shares surged to over or nearly 100% premium over their issue prices.

Infrastructure developer GR Infraprojects listed at a premium of 105% over its issue price of ₹837 per share on July 19 whereas on Clean Science shares also nearly doubled investors money on its first day of the market debut by listing at 98% premium.

Clean Science manufactures functionally critical specialty chemicals such as performance chemicals, pharmaceutical intermediates and FMCG chemicals. Udaipur-based GR Infra is a leading integrated road engineering, procurement and construction (EPC) company. It has recently diversified into projects in the railway sector.

Making a strong debut as expected, Tatva Chintan shares on Thursday listed at 95% premium over issue price of ₹1,083 a piece. The stock surged to ₹2,448, minutes after listing. Incorporated in 1996, the Vadodra-based company is engaged in the manufacture of a diverse portfolio of structure directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC).

TCPCL is the largest and the only manufacturer of SDAs (40% of revenue) for Zeolites in India while it is the 2nd largest globally. In case of PTC (27%), it is the largest producer in India and one of the global leaders, say analysts.

Zomato, India's first unicorn to go public, listed at 53% premium on its stock market debut on July 23, and jumped as much as 80% from its issue price of ₹76 per share on its listing day. The home-grown food delivery platform, launched in 2008, operates in about 525 cities in India and has partnered with close to 390,000 restaurants.

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