Ashish Kacholia's Portfolio Stock Poised to Become Multibagger with 82% Rise from IPO Price

Ace investor Ashish Kacholia is known for his prowess in picking potential multibaggers. For the same reason, his portfolio has been used as a reference by retail investors. In a recent development, it is reported that Kacholia has initiated an investment in a recently listed SME stock, Saakshi Medtech & Panels Ltd.

According to a report, Kacholia bought 6,22,800 shares of Saakshi Medtech shares via a block deal at an average price of Rs.167.01 per share on the open market. The total value of the transaction amounts to Rs.10.4 crore.

Hem Finlease was the seller.

With Kacholia”s investment, Saakshi Medtech shares gained attention and locked in a 5% upper circuit at a price of Rs.177.05.

Saakshi Medtech had a stellar debut on October 3, when its shares were listed at Rs.146, a premium of 50.5%. The issue price of the stock was Rs.97. Since then, the stock has continued to rally, and has now risen 82% from its IPO price.

Saakshi Medtech & Panels raised Rs.45.16 crore through its initial public offering (IPO), which opened on September 25 and closed on September 27. The issue was entirely a fresh issue, where the company offloaded 46.56 lakh shares at a price band of Rs.92-97 per share.

The IPO was subscribed 91.65 times, with retail investors subscribing 75.88 times of their quota, Qualified Institutional Buyers” (QIB) category subscribing 37.35 times, and Non-Institutional Investors (NII) subscribing 200.78 times.

Saakshi Medtech and Panels manufactures electrical control panels and cabinets that consist of microcontrollers, programmable logic controllers, and SCADA systems, which are used in elevators, air compressors, the renewable energy industry, electric vehicle charging stations, and other applications.