Pune E-Stock Broking Limited had an impressive debut on the stock exchanges on March 15, with shares listed at ₹130, which is a 57 percent premium over the issue price of ₹83 on the BSE SME platform.
The IPO of Pune E-Stock Broking attracted a lot of investor attention, with a subscription rate over 300 times by the end of the subscription period.
On its debut day, Pune E-Stock Broking’s stock closed 3.18 percent higher at ₹133.18 per share on the BSE.
On the final day of its subscription, the Initial Public Offering (IPO) of Pune E-Stock Broking was oversubscribed 371.16 times.
Retail investors showed strong interest, oversubscribing their portion by 338.92 times, while non-institutional buyers oversubscribed by 775.99 times, as per data from chittorgarh.com. Qualified Institutional Buyers subscribed to the issue 123.02 times.
The IPO included 46 lakh newly issued equity shares, with the company looking to raise ₹38 crore from the public.
The funds raised will be used for different purposes such as meeting working capital needs, covering general corporate expenses, and managing costs related to the public offering.
Pune E-Stock Broking Limited (PESB) is a corporate broking firm offering various financial services.
These services include client broking services, enabling individuals to invest or trade in shares through its platform.
Bigshare Services Pvt Ltd was the registrar for the Pune E-Stock Broking IPO, with Share India Capital Services Private Limited serving as the book running lead manager.
Share India Securities also acted as the market maker for the Pune E-Stock Broking IPO.
