Afcom Holdings IPO: Afcom Holdings Limited’s IPO opened for subscription on August 2 and closed on August 6. This was an SME IPO, which was to be listed on BSE SME. The company had fixed a price range of Rs 102-108 for each share under this IPO. The company’s IPO received 303 times subscription. Which clearly meant that investors wanted to include the company’s shares in their portfolio at any cost.
The company was listed on BSE SME on 9 August
The company got listed on BSE SME on Friday, 9 August. But you will be surprised to know that the shares for which the company had fixed a maximum price of Rs 108, were listed at a premium of 90 percent at Rs 205.20. Not only this, even after being listed in the stock market with a huge premium of 90 percent, tremendous buying was seen in the shares of Fcom Holdings.
As soon as the shares got listed in the market, they hit an upper circuit
According to BSE data, as soon as the company was listed in the market, investors rushed to buy the shares of Fcom Holdings. Within a short time, the company’s shares hit an upper circuit of 5 percent and the company’s shares reached a price of Rs 215.45 on the day of its listing.
Investors’ money almost doubled on the first day
Shares of Fcom Holdings made those investors rich on the very first day, who were allotted shares of the company under the IPO. Let us tell you that under the IPO, investors were allotted 1200 shares in one lot at the price of Rs 108. That is, the investors who got the allotment of shares became rich. The investment of Rs 1,29,600 of such investors almost doubled to Rs 2,58,540 on the very first day.
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