Oriana Power shares double allottees’ money on listing date
Oriana Power shares had a dream debut today on NSE SME exchange, when the stock listed at ₹302 apiece levels, which is more than 155 per cent from the upper price band of the public issue. The SME issue was offered at ₹115 to ₹118 per equity share. Hence, the NSE SME stock has doubled share allottees’ money on the listing date by delivering over 155 per cent listing premium to the lucky applicants.
Oriana Power share price opened on NSE SME exchange at ₹302 apiece and went on to hit intraday high of ₹317.10 apiece. However, profit booking soon triggered and it slipped to its intraday low of ₹286.90 apiece. Oriana Power share price today is currently quoting around ₹307 per share levels.
Oriana Power IPO details
Oriana Power IPO was launched in the beginning of August 2023 and the public issue was opened for bidding from 1st August to 3rd August 2023. The book build issue was offered at a price band of ₹115 to ₹118 per equity share and one lot of the public issue was comprising 1200 shares of the company. So, minimum investment of a retail investor in this SME IPO was ₹1,41,600 ( ₹118 x 1200). This issue was proposed for listing on NSE SME exchange.
Oriana Power had offered 5,055,600 shares for listing on the above said bourses out of which 1,440,000 shares (28.48 per cent) were reserved for anchor investors; 9.6 lakh shares (18.99 per cent) were reserved for QIB investors, 7.2 lakh shares (14.24 per cent) were reserved for HII category investors while 16.8 lakh shares (37.23 per cent) was reserved for retail investors.
The SME company has claimed that net proceeds of the public issue will be used for working capital requirements of the company, investments in subsidiary companies and meeting the capital expenditure and expansion of the company.
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Updated: 11 Aug 2023, 01:19 PM IST
