Multibagger Stock: The IPO market had a fantastic year in 2024. Taking advantage of favourable market conditions, several companies from a variety of industries, including technology, consumer goods, green energy, and finance services, have made successful debuts on Indian stock exchanges this year. Many well-known shares of big companies have been listed on the exchanges, including Swiggy, Hyundai Motor India, Bajaj Housing Finance, Premier Energies, FirstCry, Ola Electric Mobility, and TBO Tech.
Several companies have listed on the stock exchanges including Main board and SME categories. Let us tell you that out of all the initial public offerings (IPOs), more than 65% IPOs have risen well over their upper price range. The multibagger stock that we are discussing with you today had the most growth since its debut. We are talking about Owais Metal and Mineral Processing.
Multibagger Stock Soared 987%.
Owais Metal and Mineral Processing went public in March this year. The IPO pricing range for the was set at Rs 87. The shares of the company were listed at a premium of 187.4%, at Rs 250. As of today, January 17, the company’s shares have increased to Rs 946. In other words, it has produced a robust return of roughly 987% thus far.
Let us tell you that the share price touched a 52-week high of Rs 1,569 on June 26. In other words, it has provided investors with a return of about 1700% just from March to June. Let us clarify that this was a SME company’s first public offering (IPO) and that it was listed on the NSE.
About Owais Metals and Minerals
A variety of metals and minerals are manufactured and processed by Owais Metal & Mineral Processing Limited. Manganese Oxide (MnO), MC Ferro Manganese, Wood Charcoal Manufacturing, and the processing of minerals such as ferro alloys, quartz, and manganese ore are all part of its product chain.
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