Pramara Promotions IPO listing: SME shares debut at 76.2% premium to issue price; locks at 5% upper circuit
₹111 per share, 76.2% higher than the issue price of ₹63. Pramara Promotions share price extended gains post listing and were locked at 5% upper circuit following stellar debut. Pramara Promotions shares touched intraday high of ₹116.55 and low of ₹105.55.
Pramara Promotions share price ended at intraday high of ₹116.55 apiece, up 5%. Pramara Promotions IPO, which is worth ₹15.27 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to fund the following goals, such as to fund working capital requirements and meet general corporate purposes.
Pramara IPO lot size is 2,000 shares. The promoters of the company are Rohit Lamba and Sheetal Lamba. Pramara Promotions Ltd is a promotional marketing agency.
The company works with clients from a variety of industries, including FMCG, QSR, pharma, beverage companies (both alcoholic and non-alcoholic), cosmetics, telecom, media, and others, to develop ideas, conceptualise goods, design, manufacture, and market promotional products and gift items. The company provides services including cross-campaigns, loyalty and incentives, corporate gifting, toy retail, sweepstakes promotions, and more. Pramara IPO subscription status was 25.71 times on day 3.
The issue received positive response from retail investors who's portion set was subscribed 17.14 times, and non-institutional buyers who's portion set was subscribed 33.99 times, according to data on chittorgarh.com. Pramara IPO subscription status was 43% times on day 1 and the issue was subscribed 1.97 times on day 2. Pramara Promotions IPO GMP today or grey market premium is +31.
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