Supreme Power Equipment shares list with 51% premium over IPO price
NSE SME platform on Friday. The stock was listed at Rs 98 on NSE.
Ahead of the listing, the company's shares were trading with a premium of Rs 31 in the unlisted market.
The IPO was priced in the range of Rs 61-65.
The public offer received tremendous response from investors with total subscription at 262 times at close. The retail portion of the IPO was subscribed 264 times and the NII part was booked 489 times.
Meanwhile, the category reserved for QIBs was subscribed 89 times.
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The IPO is entirely a fresh equity issue of up to 71.8 lakh equity shares and through the offer, the company raised Rs 46.67 crore.
The company is currently engaged in the areas of manufacturing, up-gradation, and refurbishment of transformers ranging from power transformer, generator transformer to rectifier transformer.
Power transformers are vital components in electrical power systems, serving several crucial functions to ensure transmission, and distribution of electrical energy.
Power is among the most critical components of infrastructure, crucial for economic growth. India is the third-largest producer and consumer of electricity worldwide, with an installed power capacity of 416.59 GW as of April 2023.
India’s installed renewable energy capacity (including hydro) stood at 172.54 GW, representing 41.4% of the overall installed power capacity.
