The stellar share market debut of state-run Indian Railway Catering and Tourism Corporation (IRCTC) is among the best stock market listings during the last five years. IRCTC share more than doubled on the first day of trading delivering a return of 129% over issue price to its investors. IRCTC share started the day with a stellar listing of 101% over issue price on BSE. IRCTC share listed at Rs 644 compared to the issue price of Rs 320.
Bids for IRCTC shares were invited in a price band of Rs 315 to Rs 320 during the IPO held from September 30 to October 3.
On NSE, IRCTC made its debut at Rs 626 per share. IRCTC share listing is the among the most successful entries for a PSU firm in the stock market.
Since 2014, only three firms apart from IRCTC have delivered more than 100% return on their listing. Here's a look at their market debut.
Salasar Techno Engineering
On July 25, 2017, Salasar Techno Engineering, a leading provider of Steel Solutions, made a stellar debut on BSE. The share listed 139.95% above its issue price of Rs 108 per share. The company is engaged into business of steel fabrication and infrastructure solutions, had received a huge response for its IPO, with the issue getting 273 times subscription.
On December 27, 2017, Astron Paper stock listed with gain of 141 percent above its issue price. The Rs 70-crore IPO was subscribed 243.20 times on the last day of bidding. Incorporated in 2010, Astron Paper and Board Mills is engaged in manufacturing of kraft paper. The company has manufacturing facility in Gujarat.
On March 21, 2017, Avenue Supermarts which runs a chain of popular D-Mart stores, listed at a premium of 102% to its issue price. The stock rose to Rs 615 level compared to its issue price of Rs 299 on the BSE. The initial public offer of Avenue Supermarts, the operator of retail chain D-Mart, saw robust investor demand and was subscribed 106 times with strong demand from institutional and retail investors.