Share Samadhan had a muted debut on the stock market on September 16, listing at ₹73 per share, which is a 1.28% discount to the IPO price of ₹74 on the BSE SME platform.
The listing matched grey market expectations, where no premium was expected prior to the official launch. The grey market is an unofficial space where shares are traded before the IPO officially opens for subscription.
The company’s ₹24-crore public offer involved a fresh issue of 35 lakh shares. Despite the overall interest in SME IPOs, this one saw a more subdued response, with the issue being subscribed 14.6 times. Non-institutional investors purchased 22 times their quota, while retail investors subscribed 18 times. Qualified institutional buyers showed less enthusiasm, with a subscription rate of 2.6 times.
Share Samadhan specializes in providing financial assistance for legal battles, helping individuals and organizations pursue justice without worrying about costs.
The company plans to use the raised funds to invest in technology, make a possible acquisition, and meet working capital needs. The remaining funds will be allocated for general corporate purposes and issue-related expenses.
