Multibagger IPO: SME stock gives 1600% return to allottees in 7 years
By The livemint
Multibagger IPO: The initial public offering (IPO) of Hi-Tech Pipes Ltd was launched in February 2016 at a price band of ₹50 per equity share.
The public issue was proposed for listing on NSE SME exchange and the initial offer got listed on the proposed exchange on 25th February 2016.
Hi-Tech Pipes share price today is ₹858.55 apiece, which means the SME stock has risen to the tune of more than 1600 per cent in these near 7 years of its listing.
Hi-Tech Pipes share price history
Hi-Tech Pipes shares have remained under base building mode for the last one month losing near 1 per cent in this time.
However, in last six months, Hi-Tech Pipes share price has appreciated from around ₹455 to ₹858 per share levels, delivering to the tune of 90 per cent return to its positional investors.
In last one year, this small-cap stock with a market cap of ₹1,050 crore has risen around 55 per cent.
It is one of those stocks on Dalal Street that has appreciated strongly in post-Covid rally.
In last three years, this small-cap multibagger stock has ascended from ₹70 to ₹858 apiece levels, delivering around 1125 per cent return to the bottom finishers.
Allottees ₹1.50 lakh turns to ₹25.75 lakh
Hi-Tech Pipes IPO was offered at a fixed price band of ₹50 apiece and an investor was able to apply for the IPO in lots and one lot of Hi-Tech Pipes IPO comprised 3000 company shares. Means, an allottees investment in the scrip was ₹1.50 lakh after allotment of shares.
So, if an allottee had remained invested in Hi-Tech Pipes shares after listing, its ₹1.50 lakh would have surged to ₹25.75 lakh today.
In Q3FY23 results, Hi-Tech Pipes Ltd has reported highest sales volume of 91,232 thousand tonnes, recording near 40 per cent growth against its Q3Fy22 sales volume of 65,088 thousand tonnes.
The small-cap company has reported QoQ growth of 7 per cent in sales volume.
