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Multibagger IPO: Investing in the stock market is like investing in a business. After investing, you should hold the shares for as long as possible. A stock investor must believe that more profit lies not in buying and selling stocks but in holding the stocks. That's why you should hold buy stock for as long as possible. This rule also applies to IPO investors. Today we are telling you about a stock in which investors became millionaires in the long run. This share belongs to Suratwala business.
IPO at ₹15
Suratwala Business IPO was launched in August 2020 at a fixed price of ₹15 per share. The fixed issue was proposed for listing on the BSE SME platform. One bidder was allowed to invest in this SME IPO lot and one lot of BSE SME IPO consisted of 8000 shares of the company. The amount required to invest in this SME IPO was ₹1.20 lakh (₹15 x 8000). SME stock was listed at Rs 15.45 on August 13, 2020. But after the slow listing, if someone had invested in the stock till today, his Rs 1.20 lakh would have become Rs 1 crore today.
1:10 stock split
After the soft listing, SME stocks witnessed a strong rally. Then a 1:10 stock split occurred on April 18, 2024. This means that if an investor has held shares till date, his initial shareholding would have increased tenfold. For example, an initial investment of Rs 1.20 lakh would have become 80,000 shares after the stock split.
₹1.20 lakh to ₹1 crore of Suratwala business
Shares of Ltd. touched an intraday high of 125.40 during morning trade. After this rally, it would have been beneficial to continue investing in SME stocks. If someone had held the shares after the soft listing, the initial price of Rs 1.20 lakh would have become Rs 1,00,32,000 today.
