Multibagger IPO: SME stock skyrockets 1,245% in nine months, turning investors’ ₹1.39 lakh into ₹18.7 lakh; do you own? | Stock Market News

Multibagger IPO: An SME stock has delivered astonishing gains since its listing about nine months ago. Shares of Owais Metal and Mineral Processing have skyrocketed by as much as 1,245 per cent since March 4 this year, the day it debuted on the NSE SME platform. On December 13, the stock settled at ₹1,170 apiece. This is 1,244.83 per cent up from the issue price of ₹87 of the multibagger IPO.

The stock is Owais Metal And Mineral Processing Limited. It has a market capitalisation of ₹2,127.34 crore, as of December 13. The company mainly deals in metal and minerals mining and processing. It is engaged in the processing of minerals, including manganese oxide, MC ferro manganese, wood charcoal, ferro alloy, quartz, and manganese ore.

Owais Metal And Mineral IPO

Owais Metal and Mineral Processing IPO opened for subscription on February 26 and closed on February 28.

The SME IPO aimed to raise ₹43 crore through the issuance of 49.07 lakh shares, with the face value of shares of ₹10/- each. Of the total shares issued, 1,598,400 or 32.57 per cent were offered to the retail shareholders.

The minimum lot size for an application was 1,600 shares and multiples thereafter. This means the minimum investment required by retail investors was ₹139,200.

At the current market price of ₹1,170, an investment of ₹1.39 lakh has turned ₹18.7 lakh in just nine months.

Owais Metal share price trend

The stock hit a 52-week high of ₹1,569 on 26 June and a 52-week low of ₹231.35 on 15 March.

On a monthly scale, the stock is down over a per cent this month, after a 15 per cent decline last month.

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