Sahasra Electronics Solutions has made a remarkable debut on the stock market. The company’s shares were listed on the NSE SME with a premium of 90%.
The shares were priced at Rs 537.70, much higher than the IPO price band, which was set between Rs 269 and Rs 283.
The company’s strong performance in the grey market had created high expectations among investors for an excellent listing.
Share Price Rises by 5% After Listing
On the day of its listing, Sahasra Electronics Solutions’ shares opened at Rs 537.70 on the NSE and quickly gained 5%, reaching Rs 564.55.
This brought the company’s market capitalization to Rs 1,397.10 crore. The share price surged by 99% from its original issue price, reflecting strong investor interest.
Key Details of the IPO
Lot Size: The lot size for this IPO was 400 shares, meaning that retail investors had to invest a minimum of Rs 1,13,200.
Anchor Investors: The company raised Rs 53.03 crore from anchor investors before the IPO opened to the public on September 25.
IPO Size and Strong Investor Response
Sahasra Electronics Solutions’ IPO was worth Rs 186.16 crore, with the company issuing 60.78 lakh fresh shares. Additionally, 5 lakh shares were offered for sale.
The IPO received an overwhelming response, particularly on the last day, with total subscriptions reaching 122 times the available shares.
Retail investors subscribed 74.85 times, while qualified institutional buyers subscribed 100.
80 times. The IPO was open from September 26 to 28, receiving 5.07 times subscription on the first day and 13.94 times on the second day.
