look news india
New Delhi, September 10 (HS). Shares of Naturewings Holidays, a company in the tour and travel sector, made a strong entry in the domestic stock market today. During the day's trading, this stock fell prey to selling after an initial rise. Despite this, after the end of the first trading day, the IPO investors of this stock made a profit of about 22 percent.
Naturewings Holidays' Rs 7.03 crore IPO was open for subscription between September 3 and 5. Under the IPO, 9,50,400 new shares with a face value of Rs 10 were issued at a price of Rs 74. This IPO received a tremendous response from investors, due to which it was subscribed 383.48 times overall. In this, the portion reserved for retail investors got 487.17 times subscription.
Today, this share was listed on the SME platform of Bombay Stock Exchange at a price of Rs 95. That is, with the listing, IPO investors got a profit of more than 28 percent. During the day's trading, this stock jumped to the level of Rs 99.50 with the support of buying, but after this, due to the pressure of profit booking, the shares of Naturewings Holidays fell and closed at the level of 90.25. In this way, the first day profit of IPO investors was 21.96 percent.
According to the information provided by the company, the money raised through this IPO will be used to meet the working capital requirement as well as for marketing and business promotion. This tour company, formed in 2018, provides holiday packages for the Himalayan range. In 2022, the company earned a net profit of Rs 19.89 lakh, while its net profit jumped to Rs 65.08 lakh in 2023 and Rs 1.12 crore in 2024. During this period, the company's revenue reached the level of Rs 219 crore.