Rs 1 Lakh Investment Rises To Rs 5 Lakh In 5 Months; Multibagger SME Stock Zooms 448% Since IPO

The year 2023 so far has seen many SME initial public offers (IPOs) emerge as multi-bagger and one such would also be Exhicon Events Media Solutions which has skyrocketed by 448.28% since listing in April. On Tuesday, investors cashed in some of the gains in the stock after it hit a new 52-week high of Rs 350.90 apiece on August 7th. Hence, the bullish performance has given better returns than compared to even traditional schemes like fixed deposits. An investment of Rs 1 lakh in Exhicon has risen to a lumpsum value of nearly Rs 5 lakh in less than five months.

The stock is traded on the BSE SME Exchange under the 'M' group of securities.

The company launched its IPO from March 31 to April 5, 2023, at a price band of Rs 61 to Rs 64 per share. On the last day, the IPO subscribed by 1.95 times.

It made its market debut on April 17 this year. The stock listed on a muted level, however, ended at Rs 67.20 apiece on BSE SME on the day.

Since then, this SME IPO has made a significant surge on BSE. On August 7, the stock touched its fresh record high of Rs 350.90 apiece. Taking into consideration the new high, the stock has rallied by 448.28% on the exchange.

Using Axis Direct's calculator, let's suppose an investor infused Rs 1 lakh in Exhicon shares on the listing day, their investment has climbed to nearly Rs 4.61 lakh at the current market price level.

On Tuesday, at the time of writing, the stock traded at Rs 310.20 apiece, at its 5% lower circuit. This is because investors have been booking profits after its impressive upside.

In the previous session, the stock stood at Rs 326.50 apiece. On this share price, the investment value of Rs 1 lakh has risen to Rs 4.85 lakh in less than 5 five months.

Recently, on August 1, the company said it has successfully established a food and beverage segment to support medium to big corporate events.

Exhicon revealed that while Eaton Corporation, a 100-year-old power management conglomerate operating in more than 75 countries, placed the first event order for its annual event on July 15, 2023, Axa Insurance Services, the world's number one insurance Company functioning in more than 51 countries, was the second Company to utilize EXHICON's F&B Services for its annual event of more than 1350 employees on July 29 2023.

Last month, Exhicon also received approval for acquiring a 100% stake in the Impulse B2B Solution and associates. Exhicon believes the acquisition of Impulse B2B will add strategic value to EEMSL by adding data and research services to its existing and prospective clients and further increase its clients in the global event marketplace.

Exhicon established in 1997 with a mere capital of Rs 2300 is the only organization in Asia that serves the full array of products and services for the TradeFairs and Events Sector. From Media to Integrated Marketing Solutions, From Temporary to Permanent Event Infrastructure from Management to Organising.