Penny stock Saxeria Finance surges 150% as Sensex, Nifty tumble
Even as Sensex and Nifty fell sharply, shares of Saxeria Finance Limited jumped 150% on their market debut, surprising investors
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The stock market saw a sharp fall on Wednesday. The BSE Sensex dropped 813.35 points to close at 74,764.23, a fall of more than one percent. The Nifty 50 also slipped 203.60 points to close at 23,431.50. Investors faced heavy losses in a single day because of the fall.
But amid the falling market, one stock surprised everyone. It was the stock of Saxeria Finance Limited. As soon as the market opened on Wednesday, shares of Saxeria Finance Limited on the BSE rose from Rs 10 to Rs 25, a jump of 150 percent. This meant investors got one and a half times returns. Anyone who had invested Rs 1,00,000 in the stock would have seen it become Rs 2,50,000 in a single day.
The reason for the surge is the listing of the stock on the exchange. The Bombay Stock Exchange, or BSE, said in a notice that the company's shares would list on the market from Wednesday, September 9, 2026, and trading would begin the same day. The company's shares have been placed in the 'XT' group. For the first 10 trading days, the shares will be available only in the 'trade-for-trade' segment, meaning investors can only carry out delivery-based trading during this period, with intraday trading not permitted.
The question is how this listing happened without an IPO. Under a restructuring, the sugar business of Ishwarshakti Holdings and Traders Limited, or IHTL, was demerged and merged into Saxeria Finance Limited. Under this arrangement, shareholders of IHTL were allotted shares of Saxeria Finance Limited in a 7:1 ratio. Following this process, the company's market capitalisation has risen to Rs 252 crore.
