Genxai Analytics shares debut 20% below IPO amid 17x bids
Business
Genxai Analytics made its stock market debut today at ₹92.80 per share, about 20% lower than its IPO price of ₹116.
This comes as a surprise since the IPO was a hit, getting nearly 17 times more bids than shares on offer, with non-institutional investors especially keen.
Genxai Analytics raised 54.84 cr
The company raised ₹54.84 crore and plans to put most of it into capital expenditure for the development of new products, boosting working capital, and paying off some debt.
For anyone curious about investing, the minimum lot size was pretty steep: 1,200 shares meant you'd need to shell out at least ₹2.78 lakh for two lots.