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Business News/ Markets / Ipo/  Pune E-Stock Broking IPO: Price band, issue size, GMP, key details to know

Pune E-Stock Broking IPO: Price band, issue size, GMP, key details to know

Pune E-Stock Broking IPO price band set at ₹78-83 per share with a lot size of 1,600 shares. Opening on March 7 and closing on March 12. Floor price at 7.80 times face value and cap price at 8.30 times face value.

Pune E-Stock Broking IPO price band has been set in the range of ₹78 to ₹83 apiece of face value of ₹10 each. (
Pune E-Stock Broking IPO price band has been set in the range of 78 to 83 apiece of face value of 10 each. (

Pune E-Stock Broking IPO price band has been set in the range of 78 to 83 apiece of face value of 10 each. Pune E-Stock Broking IPO will open for subscription on Thursday, March 7, and close on Tuesday, March 12. Pune E-Stock Broking IPO lot size consists of 1,600 shares. Investors can bid for a minimum of 1,600 shares and in multiples thereof. The floor price is 7.80 times of the face value and the cap price is 8.30 times of the face value of the equity shares.

Pune E-Stock brokerage Ltd is a corporate brokerage business, as stated in the Red Herring Prospectus (RHP). Through CTCL (Computer to Computer Link) Terminals, Web Interfaces, and Mobile Apps (Android & iOS), the firm primarily provides its clients with a platform for trading Equity, Futures & Options, Currency, and Commodities with the Stock Exchange (NSE, BSE, MCX). 

The clientele of the company consists of both direct clients and authorised persons, dispersed over more than ten cities. As of March 2023, the total number of clients was 60,640. Delhi and Ahemdabad are home to the company's two branch offices.

Also Read: Juniper Hotels IPO: What GMP signals ahead of share listing date?

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As per the RHP, the company's listed peers are Share India Securities Ltd (with a P/E of 18.34), ICICI Securities Ltd (with a P/E of 18.02), and Angel One Ltd (with a P/E of 17.47).

Between March 31, 2023, and March 31, 2022, Pune E - Stock Broking Limited's profit after tax (PAT) dropped by -4.69%, while revenue fell by -12.06%.

Also Read: Platinum Industries IPO : Here are 10 key risks from the RHP you should know before subscribing

Pune E-Stock Broking IPO details 

Pune E-Stock Broking IPO, which is worth 38.23 crore, comprises a fresh issue of 4,606,400 equity shares with a face value of 10. This is a completely a fresh issue, and there is no offer-for-sale component.

The net proceeds from the offering will be used by the company to fund its general corporate purpose as well as its working capital requirements.

The registrar for the Pune E-Stock Broking IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Share India Capital Services Private Limited. Share India Securities is the market maker for the Pune E-Stock Broking IPO.

Pune E-Stock Broking IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The market maker category has been reserved upto 6,91,200 equity shares or 15% of the issue.

Also Read: Purv Flexipack IPO: Issue fully subscribed on Day 1, retail, NII portion sees huge demand; GMP rises

The company's promoters  are Sandip Sunderlal Shah, Paresh Sunderlal Shah, Daidipya Ghodnadikar, Vrajesh Navnitbhai Shah, Devendra Ramchandra Ghodnadikar, and Vrajesh Krishnakumar Shah. A total of 80,34,858 equity shares, or 72.75% of the company's pre-issue paid-up share capital, are held by the promoters and promoter group.

Pune E-Stock Broking IPO GMP today

Pune E-Stock Broking IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 83 with no premium or discount in the grey market according to

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

Also Read: Exicom Tele Systems IPO fully subscribed within hours of opening; retail portion booked 5.8x; check GMP, other details

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 27 Feb 2024, 05:30 PM IST
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