5 out of 10 IPOs oversubscribed over 30 times gain over 100%

The recently listed BSE and Music Broadcast were up in the range of 7%-16%, respectively

Avenue Supermarts, the operator of retail chain D-Mart, had made a stellar market debut on Tuesday, with its stock gaining 114% over the issue price of Rs 299 to close at Rs 641. The initial public offer (IPO) of the company got robust response, which oversubscribed by 104 times.

An analysis of 10 IPOs that made debut in past one year and got oversubscription of more than 30 times reveals that the market value of five companies more than doubled from the issue price.

Besides, Avenue Supermarts,  Advanced Enzyme Technologies, RBL Bank, Quess Corp and Mahanagar Gas become multi-baggers and appreciated more than 100% against their respective issue price.

Thyrocare Technologies and Endurance Technologies gain by 58% and 48%, respectively. The recently listed BSE and Music Broadcast were up in the range of 7%-16%. The only exception is GNA Axles, which trading 7% below its issue price after ended first of listing with 18% gain.

These 10 IPOs have given an average return of 72%, as compared 36% average gain recorded by the remaining 14 companies that hit the market during the financial year 2016-17.