Sahaj Fashions shares list with 3.33% premium at ₹31 apiece on NSE Emerge

livemint.com:

₹31 apiece, a premium of 3.33% to the issue price of ₹30 per share. Sahaj Fashions IPO had received a decent response from investors. The public issue was subscribed 7.75 times in total during its subscription period from August 25 to August 29.

Sahaj Fashions IPO received 11.72 times subscription in the retail category and 3.78 times in Other category. The SME IPO was a fixed price issue and the company raised ₹13.96 crore from the public offer. Sahaj Fashions IPO was a fresh issue comprising 4,476,000 shares of the face value of ₹10, aggregating.

The IPO price was fixed at ₹30 per equity share The company intends to utilize the net proceeds from the issue towards the funding of working capital requirements including margin money, prepayment/repayment of certain secured borrowings availed by the company, and for general corporate purposes. Sahaj Fashions Ltd is involved in the manufacture of fabric for garment making, home furnishings, and industrial applications. The company manufactures cotton suiting fabric and cotton shirting fabric, polyester-based and cotton-polyster blended fabrics.