New Delhi, Sept. 30 -- Shares of Apsis Aerocom and Grover Jewells have delivered multibagger returns in about eight months since their stock-market debuts, gaining 420% and 410%, respectively, from their IPO prices.

Apsis Aerocom, which was listed on 18 March 2026 at a 39% premium to its issue price, has since surged around 420%. Grover Jewells, meanwhile, made its debut at a 9% premium but has subsequently rallied around 410%.

However, the sharp gains in these SME stocks have also been accompanied by elevated volatility, with both counters witnessing circuit-to-circuit moves.

Apsis Aerocom, a provider of engineering and precision machining services, raised Rs.35.77 crore through its IPO by issuing 32.52 lakh shares. The price band was...