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- Piotex Industries share price opened on the BSE SME exchange at ₹109 apiece, delivering around 16 percent listing gain to the lucky allottees against the SME IPO price of ₹94.
- The newly listed BSE SME stock extended its listing gains and touched an intraday high of ₹114 within a few minutes of Piotex Industries IPO listing.
- “This robust start reflects the market’s strong confidence in Piotex Industries’ growth trajectory,” commented a market analyst.
Piotex Industries’ remarkable debut on the BSE SME platform underscores investor confidence and market optimism.
Impressive IPO Subscription and Listing Gains
The initial public offering (IPO) of Piotex Industries Limited, which opened on 10th May 2024 and closed on 14th May 2024, was subscribed around 107 times. This overwhelming market response highlights the high expectations investors have from the company.
Market Performance and Future Outlook
Following its successful IPO, Piotex Industries has become the 32nd SME stock to be listed on the BSE this year, and the 48th to list at a premium, indicating a strong performance and positive market sentiment. The company plans to utilize the net issue proceeds for funding working capital requirements and other general corporate purposes, setting the stage for future growth.
Conclusion
Piotex Industries’ stock market debut has not only provided significant returns to its initial investors but also set a positive precedent for future SME listings on the BSE. The company’s strong market entry is a clear indicator of its potential and investor confidence, promising an optimistic outlook for its future endeavors.
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