Shares of Amtron Electronics had a strong listing on the stock market on Thursday. The shares got listed on NSE SME at Rs 241.00 per share, which is almost 50 percent higher than the issue price of Rs 161 per share. Amtron Electronics IPO listing was well in line with market expectations. According to a Livemint report, the IPO GMP or grey market premium today was around Rs 25 per share, which is a premium of over 15%. Amtron Electronics’ initial public offering (IPO) opened on May 30 and closed on June 3.
The company raised Rs 87.02 crore
According to the news, the allotment of Amtron Electronics IPO was finalized on June 4 and the IPO listing date was already fixed as June 6. Amtron Electricals provides products and solutions for electronics system design and manufacturing services. The Amtron Electronics IPO price band was fixed at ₹153 to ₹161 per share. At the upper end of the price band, the company raised ₹87.02 crore from the IPO, which was an entirely new issue of 54.05 lakh equity shares.
Amtron Electronics IPO subscribed 99.24 times
The public issue saw strong demand from investors across all categories. Amtron Electronics IPO was subscribed 99.24 times overall. As of June 3, it was subscribed 71.62 times in the retail category, 69.93 times in the qualified institutional buyers (QIB) category and 202.74 times in the non-institutional investors (NII) category. Hem Securities is the book running lead manager for this IPO, while Link Intime India Private Limited is the IPO registrar. The company will spend the money raised from the IPO to repay outstanding borrowings, set up additional plant and machinery, meet working capital requirements.
Amtron Electronics current stock price
Amtron Electronics shares were trading at Rs 253.05 on NSE at 11:27 am.
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