- Finelistings Technologies made an impressive debut in the stock market today, with its shares opening at a premium of 3.25% over the issue price.
- The SME IPO, valued at ₹13.53 crore, was open for subscription earlier this month and received a healthy response, with an overall subscription of 37 times.
- The company plans to use the net funds from the offering for general corporate purposes, software acquisition, and working capital requirements.
Finelistings Technologies makes a strong debut in the stock market, with its shares opening at a premium. The company plans to use the funds raised for corporate purposes, software acquisition, and working capital requirements.
Impressive Market Debut for Finelistings Technologies
Finelistings Technologies’ shares opened at ₹127 each on BSE SME today, indicating a premium of 3.25% over the issue price of ₹123. The stock jumped to Rs. 137 right after the listing, indicating a 11.38% jump over the issue price. The SME IPO, valued at ₹13.53 crore, was open for subscription from May 07 to May 09, 2024, at a price of ₹123 per share. It consisted solely of a fresh issue of ₹11 lakh of newly issued shares, without any offer-for-sale component.
Healthy Response to the IPO
The IPO received a healthy response, with an overall subscription of 37 times. Retail investors showed significant interest, subscribing 38.96 times, while non-institutional buyers displayed strong enthusiasm with a subscription of 29.85 times. The company plans to use the net funds from the offering for three purposes: general corporate purposes, software acquisition, and working capital requirements.
Diverse Operations of Finelistings Technologies
Finelistings Technologies operates in diverse sectors, including the retail of pre-owned luxury cars and software development services. These services cater to various digital transformation needs, encompassing data analytics, technology consulting, infrastructure, and security. Its digital technology offerings span cloud-based services and IT consulting services like big data analytics, cloud architecture, data engineering, and IoT solutions. It also provides solution-based services such as business intelligence analytics, cloud development, data management, digital transformation, IoT development, and web development.
Conclusion
Finelistings Technologies’ strong debut in the stock market indicates investor confidence in the company’s business model and future prospects. The funds raised from the IPO will be used to further the company’s operations and contribute to its growth. With its diverse operations and strong market debut, Finelistings Technologies is a company to watch in the future.
