Ashutosh Fibre debuts on NSE SME with 52.17% listing gain
Business
Ashutosh Fibre just hit the NSE SME platform, and its shares opened at ₹140, 52.17% higher than the IPO price of ₹92.
Even though this was a bit below what the gray market expected, it's still a strong start for the company and got plenty of people talking.
IPO raised ₹56.35cr and 144.65x subscribed
The IPO was open from August 31 to September 2 and saw crazy interest, getting subscribed 144.65 times overall.
Non-institutional investors led the charge with 200.85 times subscription, while retail and institutional buyers also showed big enthusiasm.
The company raised ₹56.35 crore, with Mefcom Capital Markets managing the process, a clear sign that investors are feeling good about Ashutosh Fibre's future.