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