Multibagger IPO: Shares of EKI Energy Services Ltd have given tremendous returns in the last one year. The IPO of EKI Energy Services came last year in 2021. This IPO was opened for investment on March 24 and its listing took place in April 2021. It was listed on the BSE SME Exchange (BSE MSE). Those who put money in this IPO would have become millionaires in today’s date.
Return of 2,568.49% from the issue price
Let us tell you that this public issue was opened on its listing day with a premium of 37 percent higher at Rs 140 level. The price band of this IPO was ₹100 to ₹102 per share. The stock closed at Rs 9,293 on Friday, April 6, 2022, up 1.55% on the BSE. That is, its current share price is Rs 9,293, which is about 9010.78 per cent (multibagger stock return) higher than its upper price band of Rs 102 per equity share.
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Investors got benefit of crores
The EKI Energy Services Limited IPO was offered at ₹100 to ₹102 per equity share. There were 1200 shares in a lot for this issue. In such a situation, an investor had to invest ₹ 1,22,400 to apply in this IPO. Had an allottee maintained his investment in this multibagger IPO from the post listing period till now, his ₹ 1,22,400 would have become ₹ 1.11 crore today.
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What does the company do?
The company provides services in climate change advisory, carbon credit trading, business excellence advisory and electrical safety audit. However its main business is to trade carbon credits. India’s carbon market is one of the fastest growing markets in the world and millions of carbon credits have been generated here. When the share of EKI Energy was listed in the same year i.e. in April 2021, then the market cap of this stock was Rs 18 crore at that time. This market cap has now increased to Rs 5093 crore. This company is completely debt free company till March, 2021. At the same time, the promoters’ stake in the company is 73.5 percent. Apart from this, the promoters have pledged any of their shares.