Sahana System makes a decent debut, lists at 20% premium
Sahana System Ltd made a decent debut on NSE SME on Monday as the shares were listed at over 20% premium to the issue price. The shares of Sahana System were listed at ₹163 apiece, 20.7% higher than the issue price of ₹135 per share.
Sahana System IPO was subscribed 9.99 times in total during May 31 and June 2. The issue was subscribed 12.97 times in the retail category, while the QIB portion was subscribed 9.70 times. It received 7.07 times subscription in the NII category.
The ₹32.74 crore-worth Sahana System IPO consisted of a fresh issue of 24.25 lakh equity shares of face value of ₹10 each. The price band for the issue was fixed at ₹132 to 135 per share. The lot size for the IPO was 1,000 shares.
Also Read: CFF Fluid Control SME IPO listing: Stock lists at a premium on BSE SME
Sahana System is an IT-related services provider with offerings like web app development, mobile application development, AI & ML development, ChatBot development, and product prototyping services.
The company offers graphics designing, SEO & ASO, digital marketing, UI / UX design, website & application migration, outsourcing of IT services and cyber security services.
At 11:20 am, the shares of Sahana System were trading at ₹171.15 apiece, a higher by 26.78% from its issue price.
Catch Live Market Updates here
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 12 Jun 2023, 11:26 AM IST
