New Swan Multitech shares list with 90% premium at ₹125.40 on BSE SME

New Swan Multitech IPO Listing: New Swan Multitech shares made a stellar stock market debut on Thursday as the stock was listed at a 90% premium to the IPO price. New Swan Multitech share price opened at ₹125.40 as compared to the issue price of ₹66 on the BSE SME.

Soon after the listing, New Swan Multitech shares extended gains and were locked at 5% upper circuit at ₹131.67 apiece. At this price, New Swan Multitech doubled IPO investors’ money.

New Swan Multitech shares were commanding a grey market premium of 80% before listing.

The stellar listing comes on the back of strong demand for the New Swan Multitech IPO that was open from January 11 to January 15.

New Swan Multitech IPO was subscribed by a robust 384.26 times in total. The public issue was booked 388.23 times in the retail category and 110.69 times in the Qualified Institutional Buyers’ (QIB) category. The Non-Institutional Investors’ (NII) portion was subscribed 739.72 times.

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New Swan Multitech IPO was an SME IPO with an issue size of ₹33.11 crore. The IPO was entirely a fresh issue of 50.16 lakh shares. The IPO price band was set at ₹62 to ₹66 per share. 

New Swan Multitech IPO allotment was finalized on Tuesday, January 16, 2024. The IPO listing date was fixed on January 18.

Hem Securities and Share India Capital Services Private Limited are the book running lead managers of the New Swan Multitech IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

New Swan Multitech is a manufacturer of precision-engineered components and parts. It manufactures its products for two sectors: the automotive industry and modern farming. 

At 11:25 pm, New Swan Multitech shares were locked at upper circuit of ₹131.67 apiece on the BSE SME, up 99.5% from its issue price.

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