While the Indian stock market is under selling pressure, some IPOs (initial public offering) of Gujarat-based companies have outperformed others, including one of the most sought-after IPOs in LICs. Some of the recently launched public issues like Tatva Chintan Pharma, Adani Wilmar, Ami Organics, Rolex Rings, and Exxaro Tiles have performed much better than the most anticipated IPOs that have recently listed on Indian exchanges.

Here we list 5 Gujarat-based companies whose IPOs have outperformed others:

1]Adani Wilmar IPO: The public issue was offered at a price of 218 to 230 per share. Adani Wilmar’s shares were listed at par because the shares listed at 221 on BSE and 227 on NSE. However, Adani Wilmar stock price had a dream run after listing as it hit a lifetime high of 878 per share, about 280% more than the upper range of its issue price. Adani Wilmar stock price today is around 645, almost 180% more than its issue price. Thus, the public issue of this Gujarat-based company has generated up to 280% return for its investors in nearly 4 months of share listing.

2]Ami Organics IPO: Shares of Ami Organics made a dream debut on Indian exchanges by opening at over 50% premium. Ami Organics shares listed at 902 on BSE and 910 on NSE against its issue price of 603 to 610 per share. After the listing, shares of Ami Organics soared to a high of 1434.45 on NSE, around 135 more than its upper price range of 610. Ami Organics stock price today is around 895 per share, around 46% more than its upper price range.

3]IPO of Rolex rings: Shares of Rolex Rings had a strong open at 1249 on BSE and 1250 on NSE against its price range of 880 to 900 per share. After the listing, the stock price of Rolex rings hit its highest level ever of 1624.60 levels on NSE, registering up to 80% increase after Rolex Rings shares listed. Rolex Rings stock price today is 1447, about 60% more than its issue price. Thus, the IPO of this Gujarat-based company has given up to 80% return to its assignees in almost 10 months after its listing on the stock exchange.

4]Tatva Chintan IPO: Shares of Tatva Chintan made a dream debut with a 95% premium on Indian exchanges. Tatva Chintan shares opened at 2111.80 on BSE and at 2111.85 to NSE against the issue price of 1083 per share. After listing, Tatva Chintan stock price hit a lifetime high of 2977.80 on NSE, registering an increase of around 175%. Tatva Chintan stock price is today 2215 per share, approximately 105% more than its issue price of 1083 per share. Thus, shares of Tatva Chintan delivered up to 175% after listing.

5]Exxaro Tiles IPO: Exxaro Tiles shares were offered at a price range of 118 to 120 per share. The question had a positive list to 126 on the BSE and NSE on August 16, 2021. However, Exxaro Tiles stock price hit its all time high 172.70, delivering up to 44% to the beneficiaries after the stock listing. Exxaro Tiles stock price is today 110 per share.

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