Effwa Infra and Research shares made a strong stock market debut on Friday as the stock was listed with a 90% premium to the issue price. Effwa Infra and Research share price began trading at ₹155.80 per share on NSE SME as against its IPO price of ₹82 per share.
Effwa Infra and Research IPO listing was in-line with the street estimates. Effwa Infra and Research IPO GMP today, or grey market premium today, was ₹143 per share or 174.39% to the issue price.
However, as NSE has set a price control cap of 90% on the issue price of SME IPOs during the pre-opening session, Effwa Infra and Research IPO listing price was at only 90% premium.
The initial public offering (IPO) Effwa Infra and Research opened on Friday, July 5, and closed on Tuesday, July 9. The IPO allotment was finalized on July 10, and the listing date is today, July 12.
Effwa Infra IPO price band was set at ₹78 to ₹82 per share and at the upper-end of the price band, the company raised ₹51.27 crore from the book-built issue. The IPO was a combination of fresh issue of 53.17 lakh equity shares worth ₹43.60 crore and an offer-for-sale (OFS) component of 9.36 lakh shares worth ₹7.68 crore.
Shreni Shares Limited is the book running lead manager of the Effwa Infra and Research IPO, while Bigshare Services Pvt Ltd is the IPO registrar.
Effwa Infra and Research IPO received strong response from investors across segments. Effwa Infra and Research IPO was subscribed 313.65 times in total as the public issue got bids for 131.07 crore equity shares as against 41.79 lakh shares on the offer.
The public issue was subscribed 323.81 times in the retail category, 166.56 times in the Qualified Institutional Buyers (QIB) category, and 477.27 times in the Non-Institutional Investors (NII) category.
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