Sheetal Universal has officially joined the stock market today, Monday. The company’s shares are now available for trading on NSE SME.
The opening price on NSE SME was ₹75, which is 7.1% more than the initial IPO price of ₹70.
For those who are not aware, the Sheetal Universal Limited IPO started on December 4th and closed on December 6th.
During the final day of the bidding process on December 6th, the IPO was oversubscribed by a significant margin.
There were bids for 179.20 times the offered shares, with a total of 57.84 crore equity shares bid against 32.28 lakh shares available.
In simpler terms, many people were interested in buying shares of Sheetal Universal.
The IPO, which is a fixed-price issue, raised ₹23.80 crore with the sale of 34 lakh shares.
The money from this sale will be used for various purposes, including financing capital expenses, meeting day-to-day operational needs, and supporting the overall goals of the company.
