Top five IPOs which delivered up to 284% returns in 2017

Aseem Thapliyal        Last Updated: November 24, 2017  | 12:57 IST
Top five IPOs which delivered up to 284% returns in 2017

The year 2017 saw a flurry of Initial Public Offers (IPO) which created a lot of buzz on the Dalal Street. While some stocks listed at discounts over their issue price, others made blockbuster debuts  and reaped huge gains for their investors.  We look at top five IPOs of 2017 which have delivered maximum returns over their issue price.

Salasar Techno Engineering: Salasar Techno Engineering on July 25 made a stellar stock market debut, as the stock got listed at Rs 259.15 on BSE, a 139.95 per cent premium to its issue price of Rs 108 per share. The IPO was open from July 12 to July 17 2017. The IPO price per share was Rs 108. The initial public offer of Salasar Techno Engineering was oversubscribed a staggering 272.93 times in July. The IPO was of 33.21 lakh equity shares at a price of Rs 108 per equity share aggregating to Rs 35.86 crore.

Proceeds from the issue will be utilised for meeting working capital requirements and general corporate purposes. Rajasthan-based Salasar Techno provides customised steel fabrication solutions in the domestic market.

Currently, the stock is trading 162% higher compared to its issue price of 108 on the BSE.

Avenue Supermarts: Avenue Supermarts, the parent firm of D-Mart, which is among the most profitable food and grocery retail chains in India, listed at a 102 percent premium to its issue price on March 22.

The stock rose to Rs 615 level, more than 100 percent premium of its issue price of Rs 299 on the BSE. The IPO was carried out from March 8 to March 10, 2017.

D-Mart is among the most profitable food and grocery retail chains in India. The firm clocked a profit of Rs 300.21 crore in fiscal 2016 on a revenue of nearly Rs 8,600 crore. Its profit after tax (PAT) rose 50 per cent year-on-year.

The price band for the IPO was set at Rs 295-299. Avenue Supermarts planned to raise Rs 1,870 crore through the IPO and the proceeds would be utilised for various purposes, including loan repayment. 

Nine merchant bankers-Kotak Mahindra Capital, Axis Capital, Edelweiss Financial Services, HDFC Bank, ICICI Securities, JM Financial Institutional Securities, Inga Capital, SBI Capital Markets and Motilal Oswal Investment Advisors-are managing the offer.

Currently, the stock is trading 284 percent higher than its issue price of Rs 299.

CDSL: The CDSL initial public offer saw a bumper subscription on the last day of the three-day bidding on June 21. The IPO was the most subscribed maiden issue in a decade with an oversubscription of 169.91 times.

The price band for the issue was Rs 145 -149 per share.

CDSL is one of the two securities depositories in India, the other being National Securities Depository Ltd (NDSL). The firm came out with an IPO almost 20 years after its incorporation. The IPO was held from June 19 - June 21, 2017. CDSL is not listed on the BSE.

Currently, the stock is trading 139 percent higher than its issue price of  Rs 149.

Dixon Technologies: Consumer electronics manufacturer Dixon Technologies listed with a 54 per cent premium on the September 18, 2017. The firm made a stellar listing at Rs 2725, compared to the issue price of Rs 1766.  The IPO received huge response from the investors starting September 6 to September 8. Earlier, Dixon Technologies raised nearly Rs 180 crore from anchor investors. The company fixed the price band at Rs 1,760-1,766.

The offer comprised fresh issue aggregating up to Rs 60 crore shares besides an offer for sale of up to 30,53,675 shares by certain existing shareholders.

The firm raised Rs 179.8 crore by allotting 10.18 lakh shares to anchor investors at the higher end of IPO price band of Rs 1760 to Rs 1766 per share.

Currently, the stock is trading 82 percent higher than its issue price.

AU Small Finance Bank: AU Small Finance Bank on July 10 made its debut in the stock market after its initial public offering received 29 times subscription. The stock rose 47 percent over the issue price and listed at Rs 528 on the BSE.

Jaipur-based bank's IPO which was open from June 28-June 30 was subscribed 53.60 times on strong response from  qualified institutional buyers and HN1s.The bank raised Rs 1912 crore via the IPO, including Rs 563 crore from 34 anchor investors. The book running lead managers to the offer were ICICI Securities, HDFC Bank (Investment Banking Group), Motilal Oswal Investment Advisors and Citigroup Global Markets India. Currently, the stock is trading 85.47 percent higher than its issue price of Rs 358.

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