Sahasra Electronics Solutions Share Price Lists At 90% Premium Over Issue Price
Sahasra Electronics Solutions' shares listed at Rs 537.7 apiece on the National Stock Exchange.
Shares of Sahasra Electronics Solutions Ltd. made a robust debut on the NSE SME platform, Emerge, listing at a premium of 90% over the issue price of Rs 283 on Friday. The stock listed at Rs 537.7 apiece on the National Stock Exchange.
Investors, who bought one lot or 400 shares in the IPO, would have made a profit of Rs 1,01,880 against an investment of Rs 1,13,200 at the time of listing.
Sahasra Electronics IPO GMP
The grey market premium on Sahasra Electronics IPO hinted at a premium of Rs 172 over the issue price on Friday just before the listing. As per InvestorGain, the projected listing price of the initial public offering of Sahasra Electronics was Rs 455 apiece, with a gain of 60.78%.
However, Sahasra Electronics' IPO listing surpassed GMP's expectations.
Investors must note that the GMP of an IPO does not indicate its official price and are speculative estimate of the grey market.
Sahasra Electronics IPO Details
Sahasra Electronics IPO was open for bidding between Sept. 26 and Sept. 30. The Rs 186.16-crore offer was a combination of a fresh issue of 60.78 lakh shares worth Rs 172.01 crore and an offer for sale of 5 lakh shares worth Rs 14.16 crore.
The issue was subscribed 122.06 times on the final day of the bidding. Non-institutional investors subscribed 260.46 times the quota, while qualified institutional buyers placed bids for 100.80 times the shares reserved for them. The retail investor's portion was subscribed 74.85 times.
Sahasra Electronics had set a price band of Rs 269 to Rs 283 per share.
The share allotment of the IPO was finalised on Oct. 1. Bigshare Services Pvt. was the registrar for the issue.
Sahasra Electronics IPO: Use Of Funds And Objectives
Sahasra Electronics will use the funds from the IPO to install an additional plant and machinery at its new manufacturing facility in Bhiwadi, Rajasthan. The company will further use the proceeds to invest in its subsidiary Sahasra Semiconductors Pvt.
The rest of the funds will be used for working capital requirements and general corporate purposes.
Business
Sahasra Electronics Solutions Ltd. operates in the Electronic System Design and Manufacturing segment and offers services related to the field. The company’s range of products includes printed circuit board assemblies, LED lighting solutions and an array of computer and IT accessories.
