In February 2016, Hi-Tech Pipes Ltd. made its initial public offering (IPO) at a price range of ₹50 per equity share. The initial offer was placed on the planned market, NSE SME Exchange, on February 25, 2016, and the public issue was proposed for listing there. With a share price of ₹858.55 today, Hi-Tech Pipes has increased in value by more than 1600% in the nearly seven years since it went public.
The History of Hi-Tech Pipes’ Share Price
The shares of Hi-Tech Pipes have been in a base-building mode for the past month, losing close to 1% during that period. However, during the past six months, the share price of Hi-Tech Pipes has increased from around ₹455 to ₹858 per share, giving positional investors a 90% return. This small-cap stock, which has a market valuation of ₹1,050 crore, has increased by almost 55% during the past year. It is one of the Dalal Street stocks that has increased significantly during the post-Covid surge. This small-cap multi-bagger stock has increased from levels of ₹70 to ₹858 each during the past three years, giving the bottom finishers a return of over 1125 percent.
Allottees ₹1.50 Lakh Turn Into ₹25.75 Lakh
Investors may apply for the Hi-Tech Pipes IPO in lots, with each lot containing 3000 business shares, and it was sold at a set price band of ₹50 per share. Meaning that after receiving shares, an allottee invested ₹1.50 lakh in the stock. Therefore, if an allottee had continued to invest in Hi-Tech Pipes shares after the company went public, their original ₹1.50 lakh would now be worth ₹25.75 lakh.