Australian Premium Solar IPO: Investors Enjoy Bumper Listing Gains
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The Australian stock market witnessed a sharp decline on January 18th, but two IPOs managed to bring huge profits to investors. New Swan Multitech and Australian Premium Solar made their debut on the market, with both companies experiencing a stellar listing performance.
New Swan Multitech’s IPO was listed at a premium of 90% at ₹125.40 per share. Investors reaped significant profits on the first day of trading. On the other hand, Australian Premium Solar’s IPO was listed at ₹140 per share, a whopping 159% premium over its issue price of ₹54 per share.
Since their listing, both companies have seen a surge in their share prices. New Swan Multitech’s shares have already crossed the ₹131 level, while Australian Premium Solar’s shares are trading at ₹147.
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New Swan Multitech’s IPO, valued at ₹33.11 crores, had a price range of ₹62-66 per share. The IPO included 2,000 shares in one lot. Australian Premium Solar’s IPO, on the other hand, had an issue size of ₹28.08 crores, with a price range between ₹51 and ₹54 per share.
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Australian Premium Solar, established in 2013, specializes in manufacturing monocrystalline and polycrystalline solar panels. The company also provides engineering, procurement, and construction services to residents, farmers, and professionals. As of March 2023, the company’s revenue for the financial year was ₹94.5 crores.
New Swan Multitech Limited, founded in 2014, supplies components to the automotive industry and modern agriculture. In FY23, the company recorded revenue of ₹151.4 crores and a net profit of ₹9.9 crores.
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Both Australian Premium Solar and New Swan Multitech’s IPOs opened on January 11th. Despite the market turmoil, these IPOs have proven to be successful investments, rewarding investors with substantial gains.
Overall, the listing of these two companies has generated excitement among investors, and their shares are expected to continue performing well in the market.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
