Shares of Sancode Technologies Limited made their positive market debut on Tuesday with the stock listing at ₹64 apiece on the BSE, a premium of more than 36 per cent as compared to its IPO issue price of ₹47 per share.
However, the stock hit a lower circuit of ₹60.80 per share after listing on the BSE SME exchange at a premium. The stock hit a high of ₹67.20 on the BSE SME in today's trade.
The initial public offering ((IPO) of Sancode Technologies Limited opened on 31 March, 2023 and remained open for bidding till 6 April, 2023.
The SME company plans to raise ₹5.15 crore from its public offer through issuance of 1,095,000 fresh shares of the company. Sancode Technologies Limited IPO price has been fixed at ₹47 per share.
The issue was subscribed to 3.39 times in the retail category and 3.98 times in other categories on Day 4 of the subscription period. The issue was subscribed 3.68 times. On Day 3, the issue was subscribed 1.41 times. On Days 2 and 1, 48 per cent and 9 per cent, respectively.
An applicant was able to apply in lots and one lot comprised 3,000 company shares. A retail investor can invest in maximum one lot that means minimum and maximum investment limit in the BSE SME IPO has been fixed at ₹1.41 lakh ( ₹47 x 3000).
Bigshare Services Pvt Ltd is appointed as official registrar for the public issue, while Shreni Shares Pvt Ltd is the issue's lead manager and market maker.
