Shri Techtex IPO listing: Shares of Shri Techtex listed on NSE SME exchange at ₹81.15, delivering near 33 per cent listing premium to its lucky allottees. The public issue was offered at a price band of ₹54 to ₹61 per equity share and the issue was proposed for listing on NSE SME exchange. However, the NSE SME stock further extended its gains against the issue price after strong debut on Dalal Street.
Share hits upper circuit after stock listing
Shri Techtex share price extended its listing gains further and hit intraday high of ₹85.20 apiece on NSE, delivering listing gain of around 40 per cent of the upper price band of the IPO, which was ₹61 per equity share. While climbing to intraday high, the SME stock hit upper circuit within few minutes of share listing.
Shri Techtex IPO began accepting subscriptions on July 26, 2023 and it closed on July 28, 2023. The company set the IPO’s price band at ₹54 to ₹61 per equity share. Shri Techtex IPO worth ₹45.14 crore, comprised entirely of a fresh issue with no offer for sale (OFS) component.
In three days of bidding, the public issue got subscribed 148.36 times whereas its retail portion got subscribed 156.24 times. The SME issue got subscribed 250.61 times in NII category whereas it got subscribed over 58 times in QIB category.
The book build issue comprised 2000 company shares means minimum amount required for a retail investor to applying for this SME IPO was ₹1.22 lakh.
Shri Techtex plans to use the net proceeds from its public offer to pay for the following projects, including building a factory shed, starting a solar farm, buying equipment, meeting working capital needs, serving general corporate objectives, and covering public offering costs.
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Updated: 04 Aug 2023, 10:09 AM IST