Elcid Investments noticed an unprecedented surge in its share value.

A little bit-known smallcap inventory changed into a sensation for buyers on October 29. Elcid Investments noticed an unprecedented surge in its share value, skyrocketing from a mere Rs 3.53 apiece to an mind-boggling Rs 2,36,250 on the BSE in only one buying and selling session.

An funding of Rs 1 lakh in Elcid Investments shares a couple of months in the past might have changed into Rs 670 crore after the worth surge.

This phenomenal rise has propelled Elcid Investments to grow to be India’s costliest inventory, surpassing tyre maker MRF Ltd’s share value of Rs 1.22 lakh apiece (Tuesday closing value on the BSE).

The astronomical enhance of 66,92,535 % within the Elcid Investments share value was witnessed after the BSE public sale for value discovery of holding corporations. Every share of Elcid was valued at Rs 2.25 lakh.

Throughout the public sale, Elcid’s shares reached a peak traded worth of Rs 4.58 lakh, though the worth found finally settled at Rs 2.25 lakh per share. Nonetheless, the inventory had touched an intraday excessive of Rs 2,36,250 per piece on the BSE.

Earlier than this, Elcid Investments had solely been traded this yr on June 21, the place simply 500 shares modified palms at Rs 3.53 every. In July 2024, Elcid Investments was thought to be a penny inventory value solely Rs 3.21 apiece.

The BSE public sale was a part of an effort to enhance value discovery for funding holding corporations (IHCs).

In June 2024, the Securities and Alternate Board of India (SEBI) introduced a brand new initiative geared toward enhancing value discovery for Funding Firms (ICs) and Funding Holding Firms (IHCs). SEBI recognized that quite a few ICs and IHCs have been buying and selling properly under their guide values. To handle this concern and guarantee higher liquidity, honest pricing and heightened investor curiosity, SEBI launched a framework for a “particular name public sale with no value bands”, particularly for these shares. In consequence, Elcid commenced buying and selling at Rs 2.25 lakh on October 29.

Presently Elcid Funding’s market capitalisation stands at Rs 52,010 crore.