Paluck Technologies IPO received 124.3cr applications versus 49.2L offered
Paluck Technologies's IPO subscribed 252.7 times more shares than were actually available.
Over three days, the company got applications for 124.3 crore shares (but only offered 49.2 lakh), racking up bids worth ₹5,968 crore, even though its market cap is nearly ₹100 crore!
Retail investors lead 372.67x IPO oversubscription
Retail investors really stole the show, oversubscribing their share by a wild 372.67 times.
Non-institutional and qualified institutional investors weren't far behind, with their portions oversubscribed by 212.4 times and 83.89 times respectively.
Shares are trading at a strong gray market premium (over 40%), and listing kicks off September 4 on BSE SME.
The funds raised will help Paluck Technologies upgrade equipment, repay debt, and fuel future growth, so it's clear people believe this company has serious potential!