Bumper listing! Maxposure share price debuts with over 339% premium at ₹145
₹145, a 339.39 percent premium to the issue price of ₹33 NSE SME. The ₹20.26 crore IPO was open for subscription between January 15-17. The SME IPO Maxposure received the highest subscription so far in 2024 at 987.47 times at close.
The company has received bids for 401.70 crore shares against 40.68 lakh shares on offer. Its NII quota was subscribed the most 1,947.55 times followed by the retail category, which was subscribed 1,034.23 times. Meanwhile, the QIB part was bid 162.35 times in the 3 days.
The issue comprised of a fresh issue of 61,40,000 equity shares with a face value of ₹10, without any offer for sale. The Maxposure IPO price band was set in the range of ₹31-33 apiece. The SME IPO lot size included 4,000 shares.
Investors can bid for 4,000 shares and in multiples thereof. The net proceeds from the public offer will be used for funding expenses incurred towards various certifications from various regulators, working capital requirements, repayment of debt, and general corporate purposes. The company is a diverse new-age media and entertainment firm that provides 360-degree services across various distribution platforms, according to the company's red herring prospectus (RHP).
The four pillars of Maxposure, a company that specialises in custom solutions, are advertising, content marketing, technology, and in-flight entertainment. Prakash and Sweta Johari are the company's promoters. Maxposure also provides content and digital marketing services for brand placement, growth and efficient audience engagement.
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