Multibagger IPO: SME stock rise 450% from its lows in 3 years. Do you own?
2 min read . Updated: 28 Oct 2022, 12:10 PM IST
Premium- Multibagger IPO was launched at ₹51 apiece and the SME stock is currently quoting near ₹121
Multibagger IPO: The Initial Public Offering (IPO) of Avro India Ltd is one of those public issues that has delivered whopping return to its long term investors after its listing on the SME exchange. The public issue was launched under the nomenclature of Avon Moldplast Ltd, which later on changed to Avro India Ltd, however its BSE scrip number remained same as 543512. The public issue was launched at an issue price of ₹51 per share in July 2018. The public issue had a par listing but in near 4 years, it has delivered whopping 150 per cent return to its long term shareholders.
Avro India share price history
As mentioned above, the SME stock was launched for stock market investors in July 2018 and it listed on the NSE SME exchange in July 2018. The SME stock has a par listing as it opened at ₹52 per share levels and closed at ₹51.65 apiece levels after making a low of ₹49.50 per share on the listing date. So, the SME stock didn't had a dream debut on Dalal Street, however, the stock has managed a dream run afterwards surging to its record high of ₹136.95 apiece levels in recent sessions. Thus, if an investor had remained invested till date in this NSE SME stock after its par listing, one's money would have grown more than 2.50 times.
The NSE SME stock continued to remain weak and went on to go to the tune of near 25.80 per share levels in May 2019. So, the stock was available at a discounted price of near 50 per cent from its issue price. So, if an investor had invested in this NSE SME stock at these levels, one's money would have grown to the tune of more than 450 per cent in last three years. However, if an investor had remained patient even without doing any averaging in the SME scrip, its money today would have grown to more than 150 per cent. So, this SME stock is a glaring example of the stock market investing rule that 'money is not in buying and selling of stock but in hold.'
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The stock was offered by its promoters as Avon Moldplast Limited IPO for listing on NSE SME Exchange. The issue was as fixed price offer at ₹51 per share. The IPO was launched in July 2018 but it was renamed ag Avro India in April 2022.
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