On March 15, Pune E-Stock Broking Limited had a strong start on the stock exchanges.
Its shares debuted at ₹130, which was a big 57% higher than the IPO price of ₹83 on the BSE SME platform.
Investors were very interested in Pune E-Stock Broking’s IPO. The subscription rate was over 300 times the available shares by the end of the subscription period.
On its first day of trading, Pune E-Stock Broking’s stock closed at ₹133.18 per share, showing a 3.18% increase on the BSE.
On the final day of its subscription, Pune E-Stock Broking’s initial public offering (IPO) was oversubscribed by 371.16 times.
Retail investors showed strong interest, oversubscribing their portion by 338.92 times, while non-institutional buyers oversubscribed by 775.99 times.
Qualified Institutional Buyers subscribed to the issue 123.02 times, according to data from chittorgarh.com.
The IPO included 46 lakh newly issued equity shares, aiming to raise ₹38 crore from the public.
The money raised from the IPO will be used for different purposes such as meeting working capital needs, covering general corporate expenses, and managing the costs of the public offering.
Pune E-Stock Broking Limited (PESB) is a corporate broking firm that provides various financial services.
It offers client broking services, enabling individuals to invest or trade in shares using its platform.
Bigshare Services Pvt Ltd was the registrar for the Pune E-Stock Broking IPO, with Share India Capital Services Private Limited as the book running lead manager.
Share India Securities also acted as the market maker for the Pune E-Stock Broking IPO.
