Six stocks listed in October are already multibaggers with gains of up to 340% from their issue prices; check full list

Goyal Salt came first in this lineup. The stock, which went public on October 11, 2023, got off to a great start, opening at a nearly 242% premium at 130 compared to the issue price of 38 each. Later, it ended the first day with a gain of 258% at 136.

The stock has extended its bull run to date and is currently up 340.5% from the issue price. The IPO attracted extraordinary interest from investors, being subscribed 267 times, Trendlyne data showed.

The company is primarily engaged in the business of refining crude salt obtained from subsoil salt in the state of Rajasthan for use as industrial and edible salts. It refines and supplies a pure, refined and quality range of triple-refined free-flow iodized salt, industrial salt, double-fortified salt, and triple-refined semi-dry salt.

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Next on the list is Vishnusurya Projects and Infra. The stock made a good entry on October 10, 2023, on the Indian stock exchanges, listing at 76.7 compared to the issue price of 73.

The stock rose in the following 23 sessions and reached 170.27% 207.30 apiece, and at current levels, it is trading 204.8% higher than its issue price.

The company is engaged in rough stone mining and manufacturing of aggregates and sand by using crushing plants and sand washing plants. In addition to mining activities, it is engaged in EPC (construction and infrastructure) projects delivered across all key sectors, such as water, transport, rail, resources and institutional development.

Also read: Multibagger IPO: Jewelery stock Senco Gold doubles allotment money in four months

Similarly, Newjaisa Technologies shares gained 200% to trade at the current price of 138.65 from their issue price 47 each. Newjaisa is a technology-driven direct-to-consumer refurbished IT electronics company that provides quality refurbished electronics at a deep discount compared to new products. Our goal is to provide best-in-class refurbished electronics at reasonable prices.

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Vinyas Innovative Technologies had another stock that is trading over 150% higher than its IPO price. The stock made a successful entry on October 06, opening at 330 apiece, compared to its issue price 165. Then it ended the first day at Rs. 346.5, more than 110% higher than the IPO price. The stock has maintained its upward trajectory longer so far, trading 194% higher than its IPO price.

The company is a provider of design, engineering and electronics manufacturing services serving global original equipment manufacturers and original design manufacturers in the electronic industry.

Also read: Diwali 2023: 58 IPOs on the main board, 172 SME IPOs on the street since last Deepavali

Similarly, the E Factor Experiences stock has advanced significantly since its IPO price. The stock had a great start, opening at a premium of nearly 53% at 115 apiece compared to its issue price 75, and then finished its first trading day with a gain of 61% at 120.8 each.

The IPO received a huge response from investors, as it was subscribed 68 times during the offering period from October 06 to October 09. Taking the stock’s current market price of 171 apiece, it is trading 128% higher than its IPO price.

E Factor Experiences is engaged in providing event experiences, event services, technology-based permanent and semi-permanent multimedia light and sound installations, specialized turnkey event assignments, wedding management, and private and social event solutions to consumers and the public.

Also read: Indian IPOs remain a mixed bag with Mamaearth listing

Plaza Wires shares have maintained a strong uptrend since listing, hitting the circuit ceiling with each passing day. The company’s shares were listed on the stock exchanges on October 13, 2023, rising 71.3 crore through the IPO.

The IPO received a great response from investors, as it was subscribed 160.98 times. The stock also had a great start, opening on a premium of nearly 40.74% at 76 apiece compared to its issue price 54. It ended the first day with a gain of 48.5% at 80.2.

This positive momentum continued for the next 11 trading sessions, when the stock consistently hit the upper limit of the 5% circuit, resulting in a stellar gain of 70%. Considering the current value of the stock of 114.55, it is trading with a gain of 115.2% over the IPO price 54 each.

Plaza Wires is engaged in the business of manufacturing and selling wires, selling and marketing LT aluminum cables, and fast moving electrical goods. Its main products in the wires and cables segment are construction wires, known as house wires, single-round and multicore flexible industrial cables, and industrial cables for submersible pumps and motors.

Disclaimer: The opinions and recommendations of the individual analysts presented in this article are. These do not reflect the views of the Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 13 November 2023, 01:17 PM IST

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