Cloud communications service provider Route Mobile is the second-highest gainer rallying over 500% since listing in September. It is one of the two stocks which have seen more than 500% gain over issue price since listing in the last one year. Overall, 10 companies have gained over 100% from their IPO prices. Around half of these 38 companies have gained at least 50%.
The benchmark indices have more than doubled since March last year riding on expectation that the economy will be able to tide over the Covid-induced damage, Covid-19 vaccination development, retail investors frenzy and easy monetary policies of global central banks. This rally has led to a rush of IPOs as well, including non-traditional sectors such as gaming companies and online food aggregators. Investors have also rewarded stock market-linked stocks such as retail broking firm Angel Broking and mutual funds transfer agency CAMS with their stocks sky-rocketing 315% and178%, respectively.
Brookfield India REIT, IRFC, Kalyan Jewellers and Suryoday Small Finance Bank are among the few who are trading below their IPO prices. These stocks, all listed this year, are down 3-30% from their IPO prices.
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