A small company named Rockingdeals Circular made its investors very rich on the first day. The company entered the stock market in an amazing way.
The shares of Rockingdeals were priced at Rs 300 when they were listed, which was 114.29 percent higher than the IPO price of Rs 140.
This means that investors made a big profit of Rs 160 on each share, doubling their money on the first day.
The company’s shares continued to rise after being listed. They reached Rs 315, a 5% increase from the listing price, making the total increase Rs 175 from the IPO price.
The IPO price range for Rockingdeals was Rs 136-140. The IPO was open for subscription from November 22 to November 24, 2023, and Rockingdeals shares are now listed on the NSE SME exchange.
The Rockingdeals Circular IPO was highly popular, being subscribed more than 213 times.
Retail investors subscribed 201.42 times, while Non-Institutional Investors (NII) subscribed 458.60 times, and Qualified Institutional Buyers (QIB) subscribed 47.38 times.
Retail investors could invest in 1 lot of the company’s IPO, which consisted of 1000 shares, requiring an investment of Rs 140,000.
