Esconet Technologies’ debut in the stock market was really impressive. On its first day, the company’s stock price doubled, giving investors a big boost.
This small company was listed at Rs 290 per share, which was 245 percent higher than its original price.
The highest price it reached during the day was Rs 294.95, meaning investors who got in early made a profit of 251 percent.
However, after this exciting start, the company’s share price dropped by 5 percent, bringing it down to Rs 275.50.
It’s worth mentioning that the initial price range for the shares was between Rs 80 to Rs 84.
If you’re wondering about the lot size, it’s 1600 shares for retail investors. So, to participate, an investor needed at least Rs 1,34,400.
The IPO was open for subscription from February 16th to February 20th, and shares were allocated on February 21st, 2024.
The total value of the IPO was Rs 28.22 crore, with the company issuing 33.6 lakh new shares.
Esconet Technologies’ IPO received overwhelming interest, being oversubscribed 507 times on the last day.
In the retail category alone, it was oversubscribed 553.02 times. Throughout the three-day subscription period, it was oversubscribed more than 600 times.
