Pune E-Stock Broking shares list at 57% premium, stock closed 3% higher
Pune E-Stock Broking Limited made an impressive debut on the stock exchanges on March 15, with its shares listing at ₹130, marking a significant 57 percent premium over the issue price of ₹83 on the BSE SME platform.
The IPO of Pune E-Stock Broking attracted considerable investor attention, demonstrating a subscription rate exceeding 300 times by the conclusion of the subscription period.
Also read: Pune E-Stock Broking IPO allotment finalised today; latest GMP, 4 steps to check status
Pune E-Stock Broking stock closed 3.18 percent higher at ₹133.18 per share on BSE on its debut day.
The initial public offerings (IPO) of Pune E-Stock Broking was subscribed on 371.16 times on the last day of its subscription. The IPO garnered enthusiastic interest from retail investors, whose portion was oversubscribed by 338.92 times, and non-institutional buyers, whose portion was oversubscribed by 775.99 times, as per data from chittorgarh.com. Qualified Institutional Buyers subscribed to the issue 123.02 times.
The IPO consisted of 46 lakh newly issued equity shares, with the company aiming to raise ₹38 crore from the public. The funds garnered from the IPO will be utilized for various purposes including meeting working capital requirements, covering general corporate expenses, and managing the costs associated with the public offering.
Pune E-Stock Broking Limited (PESB) operates as a corporate broking firm offering a diverse array of financial services. Its offerings include client broking services, allowing individuals to invest or trade in shares through its platform.
Bigshare Services Pvt Ltd served as the registrar for the Pune E-Stock Broking IPO, while Share India Capital Services Private Limited acted as the book running lead manager. Additionally, Share India Securities assumes the role of market maker for the Pune E-Stock Broking IPO.
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Published: 15 Mar 2024, 05:56 PM IST