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Apsis Aerocom and Grover Jewells rally 420% and 410% since IPO
Apsis Aerocom listed on 18 March 2026 after raising ₹35.77 crore in an IPO that was subscribed 120.2 times, while Grover Jewells debuted at a 9% premium before surging about 410%.
Shares of Apsis Aerocom and Grover Jewells have delivered multibagger gains in roughly eight months after their IPOs, with Apsis up about 420% and Grover Jewells up about 410% from their respective issue prices, LiveMint Markets reported.
Apsis Aerocom, which was listed on 18 March 2026 at a 39% premium to its issue price, provides engineering and precision machining services, and the company raised ₹35.77 crore through its IPO by issuing 32.52 lakh shares. The offer price was in the ₹104 to ₹110 band, and the IPO was subscribed 120.24 times by 13 March, including 236.96 times for non-institutional investors.
Grover Jewells, which debuted at a 9% premium, has since rallied around 410%. The sharp runs in both SME stocks have also come with elevated volatility, with each seeing circuit-to-circuit moves, according to LiveMint Markets.
The report also said Grover’s trading has shown strong momentum amid thin trading volumes, while Apsis’s offering drew broad interest across investor categories, including retail and qualified institutional investor subscriptions of 99.95 times and 100.2 times, respectively.