Multibagger SME’s IPO gives grantees a 300% return within one month of listing. ₹1.20 lakh becomes ₹5 lakh

Multibagger IPO: PNGS Gargi Fashion Jewelery shares traded on the BSE SME stock exchange last month at a whopping premium of nearly 100 percent to its issue price of €30 per share. However, the dream debut of the Mittelstand share did not just end with the IPO. Multibagger’s IPO has created Multibagger shares within a month of its listing. One of the Multibagger stocks to be delivered by the Indian stock market of late has its allotment recipients, who followed the stock’s dream debut on March 20,

PNGS Gargi Fashion Jewelery stock price history

The public offering of this fashion jewelry company was made in December 2022 at a fixed price of €30 per share. Subscription for the SME IPO opened on December 8, 2022 and bidding for the issue closed on December 13, 2022. In four days of listing, the SME issue was subscribed 230.94 times, while the retail portion was 248.68 -times drawn. Following strong investor response, the public offering was listed on the BSE SME Exchange on December 20, 2022 €57 apiece and continued to climb to its listing date high of €59.85 a piece and delivers nearly 100 percent listing premium to its allotment recipients.

Ringing in the new year, this multibagger SME stock has made the upper circuit for all five trading sessions in 2023. If someone bought PNGS Gargi Fashion Jewelery shares after the listing, even his or her money would have doubled as the stock has risen sharply from its listing price of €57 a piece too €129.35 a share and delivered over 115 percent to its shareholders in less than a month from its listing (14 trading sessions, including the listing date).

One bidder was allowed to apply in lots and one lot of the PNGS Gargi Fashion Jewelery IPO was 4000 company shares, meaning that the minimum investment by an allotment recipient was in KMU shares €1.20 lakhs.

€1.20 lakh applies €5 lakhs

If an allotment had stayed invested in this KMU stock after a strong debut, it would have €1.2 lakh would have been €5,174 lakh today.

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