Finelistings Tech Listing: Stock makes muted market debut, lists with a mere 3.25% premium at ₹127

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₹127 each on BSE SME, indicating a premium of 3.25% over the issue price of ₹123. However, the stock jumped to Rs. 137 right after the listing, indicating a 11.38% jump over the issue price.

The SME IPO, valued at ₹13.53 crore, was open for subscription from May 07 to May 09, 2024, at a price of ₹123 per share. It consisted solely of a fresh issue of ₹11 lakh of newly issued shares, without any offer-for-sale component. Also Read: Novelis plans $1.2bn worth US IPO by June, looking at $18bn valuation The IPO received a healthy response, with an overall subscription of 37 times.

Retail investors showed significant interest, subscribing 38.96 times, while non-institutional buyers displayed strong enthusiasm with a subscription of 29.85 times. The company plans to use the net funds from the offering for three purposes: general corporate purposes, software acquisition, and working capital requirements. Finelistings Technologies operates in diverse sectors, including the retail of pre-owned luxury cars and software development services.

These services cater to various digital transformation needs, encompassing data analytics, technology consulting, infrastructure, and security. Also Read: Premier Roadlines IPO: Check GMP, subscription status on day 2, other details Its digital technology offerings span cloud-based services and IT consulting services like big data analytics, cloud architecture, data engineering, and IoT solutions. It also provides solution-based services such as business intelligence analytics, cloud development, data management, digital transformation, IoT development, and web development.