CPS Shapers makes a stellar debut: SME shares lists with a hefty 147% premium at ₹450 per share on NSE Emerge
IPO listing: The shares of CPS Shapers Ltd made a strong debut in the Indian stock market exchanges on Thursday. CPS Shapers shares were listed at ₹450 apiece, a hefty premium of 147.56% to the issue price of ₹185 per share. CPS Shapers IPO listing date was fixed today, September 7, and the company’s shares were listed on NSE Emerge, a platform for Small and Medium Enterprises (SME) companies.
CPS Shapers is the manufacturer of Shapewear for Men and Women and the company raised ₹11.1 crore from its initial public offering (IPO). CPS Shapers IPO was open from August 29 to August 31. Also Read: Rishabh Instruments IPO: What GMP signals after announcement of allotment status CPS Shapers IPO received strong subscription from investors as the public issue was subscribed 253.97 times in total.
The IPO was booked 301.03 times in the retail category and 198.17 times in the Other category. CPS Shapers IPO consisted of fresh issue of 6,00,000 equity shares aggregating to ₹11.10 crore. There was no offer for sale (OFS) component.
The company sold shares in the public issue at a fixed price of ₹185 apiece. The company plans to use the gross proceeds to upgrade their existing IT software at their existing manufacturing facility and registered office, buy plant and machinery for their existing manufacturing facility, buy a commercial vehicle, fund capital expenditures for the purchase of a solar power system by our company, and repay or prepay, in full or in part, borrowings that their company has accessed. CPS Shapers SME IPO's lead manager is Shreni Shares Ltd.
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