Vans Electroengineerings shares jump 90% on BSE SME listing
Business
Vans Electroengineerings just made a huge splash on the BSE SME platform, with its shares opening at ₹224.20, an impressive 90% jump over the IPO price of ₹118.
This matches what the gray market was buzzing about before listing, and definitely turned some heads.
Vans Electroengineerings IPO subscribed 628.73 times
The IPO was a hit, getting subscribed 628.73 times overall; non-institutional investors alone went in 1,031.87 times!
Founded in early 2022, Vans builds tech for railway electrification and renewable energy (think vacuum circuit breakers used in train substations).
The entire ₹33.98 crore IPO was fresh shares, priced between ₹112 and 118 each, but you needed at least ₹1,41,600 to grab a lot at the top end, a big ask but clearly didn't stop many from jumping in.