Multibagger stock: An SME stock that listed just nine months ago has delivered a stunning 250% return to its IPO allottees, emerging as a multibagger in a short span of time.
The stock in question is Sathlokhar Synergys E&C Global Limited, which got listed on the NSE SME platform in August 2024. The company’s SME issue, opened on July 30, 2024 and closed on August 2, 2024, was priced at ₹140 per share and witnessed a phenomenal demand.
Strong demand for IPO
The SME IPO was overall subscribed 211.13 times with investors bidding for 89.26 crore shares as against 42.28 lakh on offer.
The non-institutional investors category was subscribed the most at 382.11 times followed by the qualified institutional buyers quota, which was bid 171.55 times. Meanwhile, the retail investor portion was also subscribed a massive 160.47 times.
Blockbuster stock performance
The stock had also seen a ₹260, a premium of 85.7%”>blockbuster debut on August 6, 2024, as it had listed at ₹260, a premium of 85.7% to the IPO price. Post listing, the SME stock was in a one-way trajectory, moving to an all-time high of ₹695.45 in less than a month of its stock market debut.
However, Sathlokhar Synergys E&C Global share price faced some volatility following weakness in its financials. Despite that, as of its last close of ₹488.50, as on April 11, the stock has recorded a stellar gain of 249% over the IPO price in a span of less than nine months.
Robust order pipeline
In the last session itself, the stock recorded a stellar 11% rally on NSE on bagging an order from Ceylon Beverage Can Private Limited, a company owned by former Sri Lankan cricketer Muthiah Murlidaran.
The order worth ₹219.22 crore is for, “the execution of civil work, PEB, MEP, processing Pipe Line Work, coordination for Plant & Machinery and Solar work at Proposed Factory at Plot No. A-9, Supa Parner Industrial Park, Ahilyanagarr, Maharashtra 414301 and Plot No.146, Kellambally Industrial Area, Kellamballi Village, Badanaguppe, Chamarajanagara, Karnataka, 571313, India,” Sathlokhar Synergys E&C Global said in an exchange filing.
As of March 31, 2025, the SME stock had an order book of ₹1,124.02 crore to be executed before March 31, 2026, signaling the possibility of steady revenue in the coming quarters.
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