Sahasra Electronic Solutions Limited has opened its initial public offering (IPO) today, aiming to raise ₹186.16 crore. The IPO will be open for bidding until September 30, 2024. The price band is set between ₹269 and ₹283 per equity share, with a grey market premium of ₹190. By 12:18 pm on day one, the IPO had been subscribed 0.94 times, showing a decent response. The IPO consists of fresh shares worth ₹172.01 crore and ₹14.15 crore via the Offer for Sale (OFS) route. The shares are expected to be listed on NSE SME Emerge platform on October 4, 2024.
he IPO of Sahasra Electronic Solutions Limited opened today for public bidding and will remain available until September 30, 2024. Here are the key details:
- Price Band: The IPO is priced between ₹269 and ₹283 per share.
- Objective: The electronics company aims to raise ₹186.16 crore, of which ₹172.01 crore is from fresh shares and ₹14.15 crore from Offer for Sale (OFS).
- Subscription Status: As of 12:18 pm on day one, the IPO was subscribed 0.94 times, showing a strong start.
- Grey Market Premium (GMP): Currently trading at a premium of ₹190 in the grey market.
- IPO Lot Size: Bidders can apply in lots of 400 shares each.
- Registrar & Listing Details: Bigshare Services Private Limited is the IPO’s registrar. The shares are proposed to be listed on the NSE SME Emerge platform, with the likely listing date on October 4, 2024.
- Allotment Date: The probable date for share allocation is October 1, 2024.
- Financial Performance: In FY24, Sahasra’s revenue increased by over 850%, with its Profit After Tax (PAT) rising by more than 1300%, showing significant growth.
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IPO