look news india
New Delhi, 04 December (HS). On Wednesday, two companies entered the domestic stock market through listing. Of these, Apex Ecotech shares made almost double profits to its IPO investors immediately after listing. Similarly, after the IPO listing of Abha Power and Steel, it seems to be trading with a slight increase.
Shares of Apex Ecotech, a company providing services related to water treatment, had a strong entry on the SME platform of the National Stock Exchange today. The company’s shares were issued at a price of Rs 73 under the IPO, but its listing today took place at Rs 138.70 with a premium of 90 percent. After listing, the share reached the upper circuit level of Rs 145.60 within a short time due to buying support. In this way, the money of the company’s IPO investors almost doubled on the first day itself.
Apex Ecotech’s Rs 25.54 crore IPO was open for subscription from November 27 to 29. This IPO received an overwhelming response from investors, due to which it was subscribed overall 457.07 times. In this, the portion reserved for Qualified Institutional Buyers (QIB) was subscribed 136.69 times. Similarly, the portion reserved for Non-Institutional Investors (NIIs) was subscribed 1,179.62 times, while the portion reserved for retail investors was subscribed 329.65 times. Under this IPO, 34,99,200 shares with face value of Rs 10 have been issued. The company will use the money raised through the IPO to meet its working capital requirements and for general corporate purposes.
Today itself, shares of Abha Power Industry, a company manufacturing products for the railway industry, were listed on the SME platform of the National Stock Exchange. Under the IPO, the company’s shares were issued at a price of Rs 75. Today their listing was at the level of Rs 81.90 with a premium of 9.20 percent. However, due to selling pressure after listing, the stock declined. At 1 pm, this share was trading at Rs 76.10 with a gain of Rs 1.10.
Abha Power’s Rs 38.54 crore IPO was open for subscription from November 27 to 29. This IPO also got good response from investors. Under this IPO, 10 lakh shares with face value of Rs 10 have been sold under the offer for sale window, while new shares worth Rs 31.04 crore have been issued. The company will use the money raised through the IPO to meet its working capital requirements, upgrade manufacturing facilities and for general corporate purposes.
