NewJaisa Technologies share price opens at 51% premium at ₹71 on NSE SME

NewJaisa Technologies IPO listing date: NewJaisa Technologies shares made a positive debut on NSE SME today. On NSE SME, NewJaisa Technologies share price today was listed at ₹71 per share, 51% higher than the issue price of ₹47.

NewJaisa IPO price band was set in the range of ₹44 to ₹47 per equity share of face value of ₹5 each. NewJaisa IPO lot size was 3000 equity shares and in multiples of 3000 equity shares thereafter. NewJaisa Technologies IPO opened for subscription on Monday, September 25, and closed on Wednesday, September 27.

The floor price was ₹44 per equity share which is 8.8 times of the face value and the cap price was ₹47 per equity share, which is 9.4 times of the face value.

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Also Read: Newjaisa Technologies IPO opens next week. All you need to know about SME issue

NewJaisa Technologies IPO details

A fresh issue of 8,496,000 equity shares totalling ₹39.93 crore makes up the NewJaisa IPO issue and there's no offer for sale (OFS) component. Vishesh Handa and Mukunda Raghavendra are the company's promoters.

As on the date of RHP (September 16), the promoters collectively hold 1,78,56,000 equity shares constituting 53.69% of the post-issued, subscribed and paid-up equity share capital of the company.

Also Read: NewJaisa Technologies IPO closes today: Check GMP, subscription status, other key details

The company plans to use the net proceeds from the offering to pay for general corporate expenses, working capital needs, technology development, brand and marketing initiatives, plant, machinery, and equipment purchases, as well as facility expansion and renovations.

Also Read: NewJaisa Technologies IPO: GMP, subscription status on day 2, other key details to know

NewJaisa Technologies IPO GMP today

NewJaisa IPO GMP today or grey market premium on Tuesday is +5. This indicates NewJaisa share price were trading at a premium of ₹5 in the grey market on Thursday, according to ipowatch.in

Considering the upper end of the NewJaisa Technologies IPO price band and the current premium in the grey market, the estimated listing price of NewJaisa share price is ₹52 apiece, which is 10.6% higher than the IPO price of ₹47.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: NewJaisa Technologies IPO allotment finalised: Latest GMP, here's how to check allotment status