SME IPOs

Investors in small and medium enterprises’ initial public offerings laugh all the way to bank after tripling and quadrupling their investments in matter of 10-15 days, even as exchanges plan to tighten norms. The three SME IPOs—Winsol Engineers, Refractory Shapes, and TGIF Agribusiness—were listed at a huge premium last week on NSE Emerge and BSE SME Exchange. Winsol Engineers made a bumper debut with the shares listing at ₹365 a piece on NSE Emerge against the issue price of ₹75, delivering a return of over four times. The company’s share closed at ₹422 on Friday. With a lot size of 1,600 shares, an investment of ₹1.20 lakh would have fetched ₹5.84 lakh, if one had sold on listing and ₹6.75 lakh if held till the weekend. Also read Know these 5 things before subscribing for SME IPOs Incidentally, the entire gain was earned in 8 days, as the bidding for Winsol Engineers’ IPO began on May 6, and shares were listed on May 14. Read: SME mop-up via IPOs makes giant strides in CY23  Nevil Savjani, Director of Beeline Capital Advisors, said…