Rhetan TMT Shares Jump 550% In 4 Months Since Its IPO
The multibagger SME IPO of Rhetan TMT Ltd. was set for ₹70 only & got listed at ₹66.50. But now the shares are trading at ₹447 which is around 540% higher.
Rhetan TMT Ltd.’s initial public offering (IPO) was initiated in August 2022, and on September 5, 2022, the Rhetan TMT shares were listed on the BSE SME exchange at a price of precisely 70 per equity share. It did, however, end below its price range at 66.50 a piece.
However, those allottees who continued to invest in the company in support of their convictions have seen good returns in the previous four months after the firm’s listing.
Today’s Rhetan TMT share price is $447 per share, up over 540 percent from the company’s initial public offering price of $70 per equity share.
Moreover, the SME stock has also disclosed a stock split and bonus shares. According to data on BSE, the board of Rhetan TMT Ltd. awarded bonus shares in an 11:4 ratio as opposed to a 1:10 ratio.
Subject to shareholder approval, the business approved the issuing of bonus shares and stock subdivision. These choices were made by the business board in December 2022.
The BSE SME IPO was made available at a price range of 70 each in August 2022, and the stock made its debut on the secondary market on September 5th of that same year.
The SME stock had a slow listing, but since then, there has been a lot of interest in buying it.
The SME stock is currently trading at $447, which is close to 540 percent more than its initial issuance price. This indicates that Dalal Street’s recent multibagger SME IPOs include Rhetan TMT IPO.
The Company’s Board of Directors at its meeting held today, Wednesday, December 21, 2022, from 11:30 AM to 12:05 PM at the Registered Office of the Company, subject, among other things, to the approval of Shareholders at the succeeding Extra Ordinary General Meeting.