The ICE Make Refrigeration’s share price jumped 3,096% in five years, thus enriching shareholders considerably. With a retail ownership of 24%, it shows how effective investing in the right stock can be in India.
Indian equity market has delivered many multibaggers in recent times, thereby generating huge wealth for individual investors who are of the opinion that long-term investment is important for delivering spectacular gains.
Another such stock in this connection is ICE Make Refrigeration, which has shown a consistently rising trend on Dalal Street, hitting record highs every year.
The shares of this company have shown a consistently unidirectional trend over the past five years, barring a sudden drop in recent months. However, they have managed to produce multibagger gains, making this stock one of the biggest money-making stocks.
These stocks experienced a bullish phase from February 2022 through April 2025, earning profits of an astounding 1240%. In addition, these stocks managed to reach a new high of ₹1,088 per share during this phase.
That particular stock, which used to be in double figures, is now in triple figures. Not only has the rally enriched the shareholders, but it has also helped in increasing the market capitalization of the firm, which now stands at ₹1,200 crore.
History of ICE Make Refrigeration Stock
It is noteworthy that the stock was range-bound for quite some time but started to gain traction from 2022, following the purchase of the counter by investors.
It made sure that the stock continued its winning run irrespective of any volatility in the markets, as it closed the past four financial years in the green.
Since March 2020 when the stock hit an all-time low of ₹25.65, it is up by almost 3,096%, at the current market price of ₹820 per share.
Effect on investments
The enormous increase in the stock value over an extended period has greatly increased the wealth of the investors.
An investor who would have bought ₹1 lakh worth of stocks 5 years ago would have witnessed his investment becoming close to ₹11.54 lakh, demonstrating the wealth generation capabilities of the stock market, provided that the correct stocks have been selected.
It is worth noting that a considerable part of these benefits has been earned by retail investors, who together held a 24% share in the company in the June quarter as per data from the BSE.
Around 29 lakh investors with investments ranging up to ₹2 lakh together held 18.86% of the company, thus demonstrating a high level of involvement of individual investors in ICE Make Refrigeration’s success story.
The firm is involved in the business of offering tailor-made cooling solutions to varied customers belonging to different sectors through the manufacture and supply of refrigeration products and equipment.
