Pune E-Stock Broking IPO booked 39 times on Day 2; Pratham EPC Projects issue fully subscribed on Day 1
Pune E-Stock Broking was subscribed 39 times so far on Monday, the second day of the bidding process, driven by strong retail and NII interest, whose categories were subscribed 61 times and 31 times, respectively.
The IPO is entirely a fresh equity issue of 46.06 lakh shares and through the issue, the company aims to raise Rs 38 crore.
The company is offering its shares at Rs 78-83 apiece, and investors can bid for 1,600 shares in 1 lot.
Net proceeds from the public offer will be used to meet working capital requirements, general corporate purposes, and public issue expenses.
Pune E-Stock Broking primarily offers a platform to its clients for execution of trades (equity, futures & options, currency, and commodity). Its client base includes authorised persons as well as direct clients. The total client stood at 60,640 as of March 2023.
Also Read: Pratham EPC Projects IPO: Check issue size, price band, GMP and other details
For the period ended September 2023, the company clocked revenues of Rs 25.75 crore and net profit of Rs 5.52 crore.
Share India Capital is acting as the lead manager to the issue and Bigshare Services is the registrar.
Meanwhile, the issue of Pratham EPC Projects was fully booked within hours of opening. The IPO, which is entirely a fresh equity issue of 48 lakh shares, opened earlier today and will close on March 13.
The company has priced the IPO in the range of Rs 71-75 apiece, and investors can bid for 1,600 shares in 1 lot.
Funds raised from the IPO will be used for purchase of
