New Delhi, Aug 1 (KNN) Sellowrap Industries had a strong start on the Indian stock market today, with its shares debuting at Rs 90 apiece on the NSE SME platform—an 8.43 per cent premium over the issue price of Rs 83.
The listing performance surpassed market expectations, with a grey market premium (GMP) of 6 per cent just ahead of the debut.
The company, a manufacturer of automotive components, launched its initial public offering (IPO) under the SME category. Sellowrap Industries is now listed on NSE Emerge, a dedicated platform for small and medium enterprises.
The IPO was open for subscription from July 25 to July 29, and the allotment was finalized on July 30. The listing took place today, August 1.
The price band for the IPO was fixed at Rs 83 per share, with the company raising Rs 30.28 crore through a fresh issue of 36.48 lakh equity shares.
Investor response to the IPO was overwhelming, with the issue being subscribed 65.09 times overall. The retail investor category saw the highest demand, with subscriptions reaching 68.74 times.
Non-Institutional Investors (NIIs) followed with 117.81 times, while Qualified Institutional Buyers (QIBs) subscribed 18.76 times.
Gretex Corporate Services served as the book-running lead manager for the IPO, while Purva Sharegistry India Pvt Ltd acted as the registrar.
The successful listing reflects strong investor confidence in Sellowrap Industries’ growth prospects and adds to the momentum of recent SME listings on the Indian stock exchanges.
(KNN Bureau)
