A look at IPOs which sparkled on listing day and brought joy to investors

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July has been the busiest month in terms of initial public offerings (IPOs) with many new companies listing on the Indian exchanges, eliciting good response from retail investors. According to experts, the companies are trying to make the most of the strong rebound in the Indian markets post-Covid-19, the high liquidity and investor appetite. The euphoria among investors is also growing looking at the potential of sharp returns on the issue price.

Here’s a look at the five recent IPOs which almost doubled investors wealth on the listing day:

Tatva Chintan IPO

The stock doubled investors’ money on the listing day, with the stock rallying 129.6%  to hit an intraday high of Rs 2,486.30 on July 29. Tatva Chintan IPO price band was fixed at Rs 1073 to Rs 1083 per equity share. Immediately after the listing, it made intraday high of Rs 2,534 at NSE and Rs 2,486 at BSE — almost close to its 20% upper circuit levels. Those who had got Tatva Chintan shares allotted during finalisation process of the share allotment, had a great chance of booking more than 100% profit on their investment.

GR Infra IPO

The engineering company shares got listed at NSE and BSE on 19th July 2021. On the NSE, shares of the Udaipur-based infrastructure company listed at premium of 105% at Rs 1,715.85 compared to its issue price of Rs 837 GR Infra shares listed at Rs 1700 at BSE and at Rs 1,715 at NSE. The public issue price was fixed at Rs 828 to Rs 837. The public issue was subscribed 102.58 times of its offer. GR Infraprojects is an integrated road engineering, procurement and construction (EPC) company with strong fundamentals and got maximum broking houses to give long-term subscribe rating.

Clean Science IPO

Clean Science and Technology listed at Rs 1,784.40 on BSE, a 98.26%  premium to its issue price of Rs 900. On NSE, the scrip listed at Rs 1,755, up 95%. This chemical manufacturer company’s shares got listed at Indian bourses on 19th July 2021. A specialty chemical manufacturer, Clean Science has a global presence with a focus on developing green chemicals. The company manufactures specialty chemicals such as Performance Chemicals, Pharmaceutical Intermediates, and FMCG Chemicals. On listing, Clean Science and Technology had a market capitalisation of Rs 18,953 crore.

Burger King IPO

Its shares were listed at NSE and BSE on December 14, 2020. Quick service restaurant (QSR) Burger King India’s stock more than doubled on its market debut on Monday, ending with a gain of 131% — this was by seen as the best listing day performance in over three years — at Rs 138 apiece, over its issue price of Rs 60.

Happiest Minds IPO

This Bengaluru-based IT service company shares got listed on 17th September 2020. Shares of IT services firm Happiest Minds Technologies had made a strong debut on exchanges. Happiest Minds shares surged as much as to Rs 395 on BSE as compared to issue price of Rs 166. The Rs 702-crore initial public offering of Happiest Minds Technologies, promoted by Ashok Soota, garnered massive response from investors as it was subscribed a whopping 151 times.