Multibagger IPO: SME stock Basilic Fly Studio gives 200% return to allottees within one month
Multibagger IPO: Money is not in buying and selling of stocks but in holding them as long as one can. However, on some occassions, one’s money rise many folds in very short time span. This can happen in stocks as well as IPOs because investing in stocks or IPOs is like investing in business.
Those who want to belive only when there is an example. Then for such investors, we have Basilic Fly Studio IPO to showcase the power of stock market investment. This SME IPO was offered in first week of September 2023 and it listed at a whopping 175 per cent premium on NSE SEME Emerge platform. The SME stock extended its fains further as it has hit ₹300 levels during Tuesday deals.
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Basilic Fly Studio IPO details
The initial public offering (IPO) of Basilic Fly Studio Limited was launched on 1st September 2023 at a price band of ₹92 to ₹97 per equity share. The public issue listed on 14th September 2023 at a whopping premium of over 175 per cent. However, if an investor had remained invested in the SME scrip, its listing gain would have further widened as Basilic Fly Studio share price today hit a new life-time high of ₹304.80 apiece on NSE.
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Basilic Fly Studio share price today opened upside and went on to hit intraday high of ₹304.80 levels, logging around 215 per cent rise against the issue price of ₹97 (upper price band). So, if an investor had invested in the BSE SME scrip in first week of September, when the book build issue had opened for subscription, its money would have tripled within one month of investment.
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₹1.16 lakh turns to ₹3.50 lakh in one month
The SME issue was comprising 1200 company shares, which means an investor required ₹1,16,400 ( ₹97 x 1,200) to apply for the SME IPO. As the SEM stock has risen around 215 per cent in less than one month of its listing, one’s ₹1.16 lakh has grown around ₹3.50 lakh in this time.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 26 Sep 2023, 02:11 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.