WOL 3D India made its debut on the stock market on September 30, listing at ₹180 per share on the NSE SME platform, a 20% premium over its IPO issue price of ₹150. This listing, however, did not meet the expectations of the grey market, where shares were trading at a 45% premium prior to the listing day.
The IPO, valued at ₹22.5 crore, consisted of a mix of a fresh issue and an offer for sale. It received an enthusiastic response from investors, with the offer being subscribed 374 times. Non-institutional investors led the demand, subscribing to 749 times their reserved portion, while retail investors subscribed to 368 times their share. Qualified institutional buyers (QIBs) subscribed to 101 times their allotted quota.
About the Company
Incorporated in 1988, WOL 3D India specializes in 3D printing solutions for various sectors, including manufacturing, education, engineering, architecture, fashion, and healthcare. Their product range encompasses 3D printers, scanners, laser engravers, 3D pens, and consumables such as 3D filaments and resins. They also provide 3D prototyping and related services.
Utilization of IPO Proceeds
The funds raised through the fresh issue will be allocated for:
- Repayment of certain outstanding borrowings.
- Meeting working capital requirements.
- General corporate purposes.
The successful listing reflects strong investor interest in the emerging 3D printing sector and the potential growth opportunities for WOL 3D India in providing innovative solutions across diverse industries.
