Qualitek Labs has recently entered the stock market. The company’s shares are now available for trading on the BSE at a price of Rs 190, which is 90 percent higher than the initial price of Rs 100 set for the IPO.
Investors who were eligible for the IPO have made a profit of up to Rs 99.50 per share. The company is now officially listed on BSE.
Shortly after being listed, the company’s shares experienced a 5 percent increase. This pushed the share price to Rs 199.50 on the BSE, reaching the upper circuit level.
The IPO was open for subscription from January 18. Retail investors were not allowed to participate until January 23.
During the three days of the subscription period, the IPO was oversubscribed more than 65 times, with the maximum subscription of 58.95 times on the last day.
The company offered a lot of 1200 shares, requiring investors to place bets of at least Rs 1,20,000.
The IPO solely consisted of a fresh issue, issuing 19.64 lakh new shares to investors, with a total size of Rs 19.64 crore.
Before the IPO, the promoters held 99.99 percent of the total shares. After the IPO, their stake has decreased to 73.35 percent.
The promoters of the company include Alok Kumar Aggarwal, Antaryami Nayak, Kamal Grover, and TIC Services Private Limited.
