Adani Wilmar, Hariom Pipe Industries, and Venus Pipes & Tubes among top IPOs that gave multibagger returns in 2022

• While the entire year was slow for IPOs, the past few months have witnessed an increase in the number of companies taking the IPO route.
• Among the IPOs that launched in 2022, three IPOs stole the limelight and rewarded investors with multibagger returns.
• Two of these companies debuted on the exchanges on a somber note but doubled investors’ profit at the end of the year.

Indian markets have witnessed 34 initial public offerings (IPOs) in 2022, which is nearly half of those in the previous year as several concerns including the Russia-Ukraine war, rising inflation, higher interest rates and a strong dollar have made investors and companies alike cautious.

While the entire year was slow for IPOs, the past few months have witnessed an increase in the number of companies taking the IPO route. However, among the IPOs that launched in 2022, three IPOs stole the limelight and rewarded investors with multibagger returns.

Two of these companies debuted on the exchanges on a somber note but doubled investors’ profit at the end of the year.
Source: NSE, current market price as on 1:30 p.m.

IPO investors of Adani Wilmar have made a profit of nearly ₹36,000
Earlier this year in February, shares of fast moving consumer goods (FMCG) company Adani Wilmar – known for edible oil brand Fortune – had made a dismal listing on the exchanges at a 3.9% discount on the issue price of ₹230 apiece.

However, today an investment of ₹14,950 (one lot of IPO in the retail segment) is now worth ₹35,945 as the share price has surged 140%.

Moreover, Adani Wilmar is not the only Adani company that has delivered multibagger returns to investors. Adani Power has rallied 172% in 2022, Adani Enterprises surged 125% and Adani Total Gas spiked 100% during the year.

The market capitalisation of the FMCG company grew to ₹72,015 crore on December 22 from ₹28,722 crore on the listing day February 8, according to BSE data.

Adani Wilmar is a joint venture between the Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar.

Venus Pipes & Tubes
Earlier this year, the Gujarat-based Venus Pipes & Tubes listed at a premium of nearly 3% at ₹335 against the issue price of ₹326 per share.

So far in 2022, shares of the company have rallied 125%, more than doubling the investment of IPO investors. To visualise, if an investor was allotted one lot during the IPO in the retail segment, their investment worth ₹14,996 is now worth ₹35,945.

The market capitalisation of the company rose to ₹1,492 crore on December 22 from ₹679 crore on May 24, according to BSE data.

Venus Pipes & Tubes sells products in both domestic and international markets and exports to 18 countries including Brazil, the UK, Israel and countries in the European Union, amongst others.

It has a manufacturing unit at Dhaneti in Kutch with a total installed capacity of 10,800 metric tonnes per annum.

Hariom Pipe Industries
Shares of Hariom Pipe Industries made a strong listing on exchanges with 44% premium at ₹214 over the issue price of ₹153.

So far in 2022, shares of the company have spiked 111%, more than doubling an investment ₹14,994 (one lot of IPO) to ₹31,752.

The Hyderabad-based company manufactures iron and steel products and has a wide distribution network in south India under the brand name ‘Hariom Pipes’.

It caters to customer requirements in various sectors such as housing, infrastructure, agriculture, automotive, solar power, power, cement, mining and engineering.

In 2023, 61 companies are looking to collectively raise ₹92,403 crore via public listings. These are companies that have already received approval from market regulator SEBI but have refrained from opening their IPOs due to weak market sentiment, which could also impact valuations.


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