Methodhub Software IPO listing: Shares of Methodhub Software were off to a tepid start on Friday, December 12, as they debuted at a massive discount to the initial public offering (IPO) price on the BSE SME.
Methodhub Software share price opened at ₹155.20 — a 20% discount to the offer price of ₹194.
The listing missed expectations by a wide margin, as the grey market premium (GMP) earlier today was ₹17, signalling an 8.76% listing pop.
Soon after listing, Methodhub Software shares witnessed some buying and jumped to their 5% upper price band of ₹162.90. Yet, the SME stock remained 16.03% below its IPO price.
Methodhub Software IPO Details
Methodhub Software IPO, a book-built issue of ₹102.49 crore, was a combination of a fresh issue of ₹87.50 crore and an offer for sale of ₹14.99 crore.
The offer was open for bidding from December 5 to December 9, with the allotment finalised on December 10.
As of the final day, Methodhub Software IPO is subscribed 28.91 times, with the retail portion booked 21.54 times, the QIB segment 27.55 times and the NII quota 47.97 times.
Methodhub Software IPO price band was set at ₹190 to ₹194 per share. Investors could apply for the share sale in lots of 600 shares and multiples. The minimum amount of investment required by an individual investor is ₹2,32,800, as they need to apply for at least two lots.
The company plans to use the proceeds from the initial share sale for repayment of certain borrowings by the company, investment in a subsidiary, augmenting the working capital and for unidentified acquisitions, along with general corporate purposes.
MethodHub Software is an Information Technology (IT) services provider. The company offers next-gen business solutions to enhance the digital transformation journey of clients across the globe.
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