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Investors’ Prize: Most of the cos that listed last year trade in the green

Mumbai: Investors who have put in money in companies making a debut on the stock market over the last one year and remained invested are likely to have made a small fortune. Data compiled by ETIG Database show that out of the 38 companies that have listed on the main exchanges in the last one year, 34, or nearly 90% of them, are trading above their final offer prices. Happiest Minds Technologies has gained close to 800% over its issue price.

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.

Burger King, Rossari Biotech, Gland Pharma, MTAR Tech, Laxmi Organics, Equitas Bank, Stove Craft, Barbeque Nation, Mazagon Dock and Indigo Paints have surged 76-194% from their issue prices.

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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