Rajnandini Fashion India lists on BSE SME at ₹63
Business
Rajnandini Fashion India hit the BSE SME platform at ₹63 per share, the exact price set in its IPO.
Even though there was buzz about a possible premium, the stock didn't pop on opening day.
The company's main goal with this IPO? To boost its manufacturing and clear some debt.
IPO oversubscribed 203.74 times, raised ₹18.21cr
The IPO was a huge hit with investors, oversubscribed by 203.74 times. Retail buyers alone went in 168.63 times over their quota, showing serious enthusiasm.
Rajnandini raised ₹18.21 crore, which will go toward building a new factory, paying off loans, and keeping business running smoothly.