Sodhani Academy shares list at 32% premium over IPO price on BSE SME platform
shares of Sodhani Academy of Fintech Enablers Limited debuted on the BSE SME platform at a premium of 32% on Monday. The stock listed at Rs 53 as against an issue price of Rs 40 and hit 5% upper circuit post listing, settling at Rs 55.65.
The listing was previously scheduled on Friday but had to be postponed because of the Reserve Bank of India (RBI) circular which had swapped the banking holiday on September 16 to September 18. As a result, the T+1 event (allotment) was scheduled for Friday and listing on Monday.
The SME IPO of Sodhani Academy opened for subscription on September 12 and closed on September 17.
Ahead of the listing, the company's shares were commanding a grey market premium of Rs 15 per share which is 37% uptick over the issue price.
The issue received a strong investor response and was overall subscribed 416 times. It received 63,70,98,000 share bids against 15,30,000 shares available for subscription.
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