Investors in the primary market in 2017-18 gained bagful returns as 65 percent of the newly listed companies are trading well above their issue prices, and are giving almost three times the returns.
27 out of 41 companies that made their debut in the past fiscal are trading above their issue prices fixed after their IPOs. The remaining 14 have failed to attract investors and are quoting below their issue price, as per an analysis of the new entrants on the NSE reported by PTI.
These 27 firms have rewarded investors with returns in the range of 1-325 percent, with six of them reaching over 100 percent till April 27.
Shankara Building Products, made its market debut in April last year and is now trading 325 percent higher than the issue price. Apex Frozen Foods has given its investors a return to the tune of 270 percent while Salasar Techno Engineering's investors have been rewarded a return of 258 percent.
Besides, Astron Paper and Board Mills and PSP Projects have jumped about 174 percent each over their respective issue prices. While AU Small Finance Bank has rallied over 103 percent from its issue price.
Other impressive performers have been CDSL, Dixon Technologies (India) Ltd, Bandhan Bank, Cochin Shipyard, Godrej Agrovet, Prataap Snacks and Security & Intelligence Services (India) Ltd.
Inputs from PTI