5 IPOs that gave over 100% return in 2016
5 IPOs that gave over 100% return in 2016
2016 has been a good year for companies wanting to list on stock markets to raise money. With over 80 initial public offerings (IPOs) hitting the Indian markets, over Rs 26,000 crore was raised this year.
In terms of funding, 2016 was the best one since 2010 and was double to that of 2015.
"Marketmen say that while the first nine months of 2016 saw strong activity in the primary market, weakness started trickling into the secondary market from September and the activity has been slow in the past two months", PTI said.
Looking at the performance of these companies, here are five companies, that gave more than 100% returns in 2016.
ALSO READ: 83 IPOs hit Indian market, raised $3.8 billion in 2016: EY
Infibeam Incorporation: E-commerce company Infibeam Incorporation focuses on developing an integrated and synergistic e-commerce business model.
It was listed at 6% premium from its issue price on April 4, 2016. Its issue price was Rs 432 per share. On November 28, the company touched 52-week high of Rs 1,240 per share.
This means that the company gave returns of 187.03% to its investors.
Advanced Enzyme Technologies Limited: Advanced Enzyme Technologies is engaged in research, development, manufacturing and marketing of Healthcare, Nutrition and Bio-Processing products.
The company was the eighth IPO of the year and was listed on August 8, 2016 with the issue price at Rs 896 per share. On October 25, the company touched 52-week high at Rs 2,377 per share, giving returns of 165.12%.
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