Shri Balaji Valve Components IPO: Shri Balaji Valve Components recently entered the stock market, and it was a good start for the new year.
The company’s shares did really well on the first day, giving a lot of profit to investors.
The shares were initially priced at Rs 100, but when they were listed on the stock market, they started at Rs 190, which is 90% more.
By the end of the day, the share price went up to Rs 199.50. This means that people who bought these shares on the first day made a 100% profit.
The IPO was available for investment from December 27 to December 29, 2023, and the allotment date was on January 1, 2024.
It’s important to note that the IPO received a great response from investors, being subscribed more than 276 times.
This includes 169.95 times in the retail category, 70.04 times in the qualified institutional buyers (QIB) category, and a massive 799.70 times in the non-institutional investors (NII) category.
The total value of the IPO is ₹21.60 crore, and it consists of 21.60 lakh equity shares. There was no offer for sale (OFS) component.
The IPO’s price range was between ₹95 to ₹100 per share. BigShare Services Pvt. Ltd. is the registrar for Shree Balaji Valve Components IPO.
The company plans to use the funds raised from the IPO for general corporate purposes, working capital needs, and to set up additional plant and machinery.
