The shares of WOL 3D India, a 3D printing solution provider, were listed on the NSE today. The shares were listed at ₹180.05, which is 20% higher than the IPO price of ₹150.
Despite a large fall in the stock market, the stock saw strong buying interest right after listing.
It hit an upper circuit of 5%, reaching an intraday high of ₹189.05. The IPO for WOL 3D India opened on Monday, 23 September, and closed on Wednesday, 25 September.
The issue was highly popular, being subscribed 374 times overall.
The retail portion was subscribed over 368 times, while the non-institutional portion was subscribed about 749 times.
IPO Details
The WOL 3D India IPO included a fresh issue of 14.52 lakh shares and an offer for sale (OFS) of 2.52 lakh shares.
The company aimed to raise ₹25.56 crore in total, with ₹21.78 crore coming from the fresh issue of shares.
The funds will be used to pay off borrowings and for working capital needs.
The company’s profit after tax (PAT) has grown significantly in recent years. In FY22, FY23, and FY24, its PAT was ₹84.42 lakh, ₹2.41 crore, and ₹5 crore, respectively.
Stock Market Drop
On the same day as WOL 3D India’s listing, the stock market experienced a sharp drop.
The Sensex fell by 1,100 points, reaching 84,530.32, while the Nifty dropped 295 points to 25,885.85.
This drop was driven by foreign capital outflows and weak trends in Asian markets.
On the previous Friday, foreign institutional investors (FIIs) sold shares worth ₹1,209.10 crore, according to stock market data.
