Shares of Afcom Holdings made a blockbuster debut on BSE SME trading day. The company’s shares were listed at Rs 205.20 with a premium of 90 percent. While the company had kept the price band of the IPO at Rs 108. Later, the share price of Afcom Holdings closed with a jump of 99.49 percent. A minimum investment of ₹ 1,29,600 was required in the company’s IPO. That is, whoever got even one lot in the IPO became rich today. The value of one lot (1,200 shares) i.e. ₹ 1,29,600 increased to ₹ 2,58,539 in a single day. The company’s stock reached a high of ₹ 215.45 intraday on Friday.
The IPO was subscribed 303.03 times
Afcom Holdings’ IPO received an overall subscription of 303.03 times on the last day of the three-day bidding. Investors placed bids for 138.98 crore shares against 45.86 lakh shares on offer. The non-institutional investors (NII) portion was the highest subscribed at 697.88 times, followed by the retail category which was subscribed 202.83 times, while the qualified institutional buyers (QIB) quota was subscribed 186.23 times.
The price band was ₹102 to ₹108
Afcom Holdings’ Rs 78.83 crore IPO was open for subscription from August 2-6. The company had fixed its price band at Rs 102 to Rs 108. According to a Livemint report, the IPO consisted entirely of a fresh issue of 68.36 lakh shares, with no offer for sale. The company will use the funds raised from this IPO to lease two new aircraft, prepay or repay outstanding borrowings, meet working capital requirements and make capital expenditure for general corporate purposes.
Let us inform you, GYR Capital Advisors Private Limited acted as the book-running lead manager for the Afcom Holdings IPO, with Link Intime India Private Limited as the registrar and Giriraj Stock Broking as the market maker.
Latest Business News
