These five Gujarat-based IPOs have outperformed the market

While the Indian stock market is reeling from sell-off pressure, some Gujarat-based companies’ IPOs have outperformed others, including one of the most sought-after LIC IPOs. Some of the most recently listed public issues, such as Tatva Chintan Pharma, Adani Wilmar, Ami Organics, Rolex Rings, and Exxaro Tiles, have outperformed the most anticipated IPOs on the Indian stock exchanges.

Here are five Gujarat-based companies whose initial public offerings have outperformed the market:

Adani Wilmar IPO: The public offering was priced between ₹218 and ₹230 per equity share. The stock of Adani Wilmar was listed at par on the BSE and the NSE, at a price of ₹221 on the BSE and ₹227 on the NSE. The Adani Wilmar share price, on the other hand, had a dream run following its listing, reaching a lifetime high of ₹878 per share, over 280 percent more than the upper band of its issue price. The current share price of Adani Wilmar is roughly ₹645, nearly 180 percent more than the issue price. So, in less than four months after its public offering, this Gujarat-based company has returned up to 280 percent to its investors.

Ami Organics IPO: Ami Organics’ stock had a dream launch on Indian exchanges, opening at a premium of more than 50%. In comparison to its offering price of ₹603 to ₹610 per equity share, Ami Organics shares traded at ₹902 on the BSE and ₹910 on the NSE. Ami Organics shares have surged to a new all-time high of ₹1434.45 on the NSE, which is roughly 135 higher than its previous high of 610. Ami Organics’ stock is currently trading at roughly ₹895 per share, up 46 percent from its previous high.

Rolex Rings’ stock opened strongly at ₹1249 on the BSE and ₹1250 on the NSE, against a price range of ₹880 to ₹900 per share. Rolex Rings share price hit a life-time high of 1624.60 levels on the NSE after listing, indicating an increase of up to 80% post-listing. The current share price of Rolex Rings is ₹1447, which is around 60% more than the issue price. So, in less than ten months after its IPO, this Gujarat-based company’s allottees had received up to 80% returns.

Tatva Chintan IPO: Tatva Chintan’s shares debuted on India’s stock exchanges at a premium of 95%. In comparison to the issue price of ₹1083 per equity share, Tatva Chintan shares opened at ₹2111.80 on the BSE and ₹2111.85 on the NSE. Tatva Chintan’s share price hit a lifetime high of ₹2977.80 on the NSE after it was listed, representing a 175 percent increase. Tatva Chintan’s current share price is ₹2215 per share, up from its initial public offering price of ₹1083 per share. Tatva Chintan shares have returned up to 175 percent since their IPO.

Exxaro Tiles IPO: Exxaro Tiles’ stock was offered for sale at a price range of ₹118 to ₹120 per equity share. On the 16th of August 2021, the issue received a good listing on the BSE and NSE at ₹126. However, Exxaro Tiles’ share price soared to a lifetime high of ₹172.70, giving up to 44% to allottees following the company’s initial public offering. The current share price of Exxaro Tiles is ₹110 per share.