Plaza Wires IPO: Upper circuit every day for 10 days, investors of this IPO got 150% return in 3 weeks

Plaza Wires IPO: Upper circuit every day for 10 days, investors of this IPO got 150% return in 3 weeks

Some shares recently listed in the market are doing wonders. One prominent name among them is Plaza Wires. After the IPO in the beginning of this month, this stock has given a return of 150 percent to its investors.

Upper circuit every day after listing

Plaza Wires stock has increased in the last 10 days. There is a continuous upper circuit every day. The company’s shares were listed in the market after the IPO on 12 October 2023. Since then, there has been trading in the market only for 10 days. This means that the shares of Plaza Wires are making upper circuit every day after being listed in the market.

50% jump in the first day itself

Right now the shares of Plaza Wires are in the market. The circuit limit is 10 percent, which means its share prices have strengthened 100 percent in the last 10 days. In other words, the share price of Plaza Wires has doubled since its listing and since then the money of its investors has also doubled. Before that, the listing of Plaza Wires was also great and a premium of 40 percent was received on the listing itself, whereas after the first day of trading, the stock had a profit of 48.5 percent.

IPO of Rs 71 crore.

Plaza Wires had launched an IPO of Rs 71.28 crore earlier this month. This IPO was opened on 29 September, while it remained open for subscription till 5 October. Its shares were allotted on 9 October and on 12 October the shares were credited to the demat accounts of the investors who made successful bids. The listing of shares was also done on October 12.

This much is the price now

The size of one lot in the IPO of Plaza Wires was 277 shares. The price band for the IPO was fixed at Rs 51 to Rs 54. Thus, for one lot it was necessary to invest Rs 14,958. On October 12, the share was listed at Rs 76 with a premium of 40.74 percent compared to the upper price of the IPO. After the first day of trading the share closed at Rs 80.2. Currently, the price of one share is Rs 136.60.

One and a half times the income from investment

Looking at it this way, the current share price of Plaza Wires is 153 percent higher than the IPO price band. The pace has arrived. Currently, the price of one lot of Plaza Wires has accordingly increased to Rs 37,838.20. That means the investors of this IPO have earned Rs 22,880 on each lot in less than a month and that too on an investment of less than Rs 15 thousand.

Also read: < a title="Started giving competition to Tata and HUL, family business increased 20 times, Parag Desai's net worth was this much" href="https://www.abplive.com/business/parag-desai-net-worth-salary-income-company-revenue-of-wagh-bakri-tea-owner-2522159" target="_blank" rel="noopener">Started giving competition to Tata and HUL, family business increased 20 times, this much was the net worth of Parag Desai

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