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Effwa Infra and Research Shares Make Strong Debut with 90% Premium - CurrencyVeda
November 22, 2024

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Effwa Infra and Research Shares Make Strong Debut with 90% Premium

Editor Currencyveda03 mins
Effwa Infra and Research Shares

July 12, 2024

New Delhi, India

Effwa Infra and Research Share Price:

Effwa Infra and Research shares made a robust debut on the NSE SME platform on Friday, listing at ₹155.80 per share, which is a 90% premium over the IPO price of ₹82.

IPO Listing Details:

The strong listing was in line with market expectations. The grey market premium (GMP) for Effwa Infra and Research IPO was ₹143 per share, indicating a 174.39% premium to the issue price. However, NSE’s price control cap of 90% on SME IPOs during the pre-opening session set the listing price at a 90% premium.

Effwa Infra and Research IPO Details:

  • IPO Open and Close Dates: The IPO opened on July 5 and closed on July 9.
  • IPO Allotment Finalized: July 10.
  • Listing Date: July 12.
  • Price Band: ₹78 to ₹82 per share.
  • Funds Raised: ₹51.27 crore at the upper end of the price band.
    • Fresh Issue: 53.17 lakh equity shares worth ₹43.60 crore.
    • Offer-for-Sale (OFS): 9.36 lakh shares worth ₹7.68 crore.

Also Read: Currency Market Update July 12, 2024: USDINR, EURINR, GBPINR, JPYINR

Investor Response:

Effwa Infra and Research IPO received a strong response from investors across all segments:

  • Total Subscription: 313.65 times.
  • Retail Category: 323.81 times.
  • Qualified Institutional Buyers (QIB) Category: 166.56 times.
  • Non-Institutional Investors (NII) Category: 477.27 times.

Lead Managers:

  • Book Running Lead Manager: Shreni Shares Limited.
  • IPO Registrar: Bigshare Services Pvt Ltd.

Conclusion:

The impressive listing of Effwa Infra and Research shares on the NSE SME platform reflects the strong investor demand and positive market sentiment towards the company. The high subscription rates and significant premium highlight the market’s confidence in the company’s growth prospects.

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CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.

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