SRIT India shares list at 14% premium over IPO price on NSE
SRIT India made a strong stock market debut, listing at a 13.85% premium on NSE and 7.54% on BSE. The Rs 218.40-crore IPO was subscribed 125.16 times overall, with the NII portion seeing 312.99 times subscription and QIB portion 91.84 times.
On Tuesday, shares of SRIT India debuted on the NSE at a 13.85% premium to the IPO price of Rs 130, opening at Rs 148 per share. On the BSE, the company's shares listed at Rs 139.8, representing a 7.54% premium over the IPO price. However, the grey market had indicated a significantly higher premium of approximately 42% over the IPO price.
The SRIT India IPO was a Rs 218.40-crore book-built issue, consisting entirely of a fresh issue of 1.68 crore shares, with no offer-for-sale component. The IPO was subscribed 125.16 times overall, with the retail portion subscribed 63.70 times and the QIB (Ex Anchor) and NII portions subscribed 91.84 times and 312.99 times, respectively.
The IPO price band was set at Rs 123–130 per share, with a minimum retail investment of Rs 14,950 for one lot of 115 shares. The company plans to use the net IPO proceeds primarily for capital expenditure and working capital requirements, while the remaining funds will be used for inorganic growth and general corporate purposes.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
