Multibagger stock surges 300% in 2 years. Should you invest?
What's the story
Khazanchi Jewellers, a leading gold and silver jewelry retailer based in Chennai, has witnessed an incredible surge in its share price since its debut on the Indian stock market.
The company was listed on the Small and Medium Enterprises (SME) segment of the BSE in August 2023.
The IPO opened for subscription between July 24-28, with a price band of ₹140 per share.
IPO details
IPO and market debut
The IPO of Khazanchi Jewellers was a fresh issue of 69.1 lakh equity shares, raising ₹97 crore for the company.
The shares had a muted stock market debut on August 7, 2023, listing at ₹142.30 apiece on the SME platform of BSE—merely 1.64% higher than the issue price.
Despite limited gains on listing day, the stock has witnessed a strong uptrend since then.
Stock surge
Stock performance and investor returns
As of May 30, 2025, shares of Khazanchi Jewellers closed at ₹562.10 apiece on the BSE SME platform.
The share surged over 151% in the last year and hit its 52-week high of ₹670 on November 28, 2024.
From its IPO price of ₹140, the stock has since appreciated over 301%, turning into a multibagger for early investors.