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Business News/ Markets / Ipo/  Sancode Technologies share price hits lower circuit after listing at 36% premium
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Sancode Technologies share price hits lower circuit after listing at 36% premium

The stock of Sancode Technologies hit a lower circuit of ₹60.80 per share after listing on the BSE SME exchange at a premium

The public issue has listed on the BSE SME exchange today. (Reuters)Premium
The public issue has listed on the BSE SME exchange today. (Reuters)

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.

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ABOUT THE AUTHOR
Meghna Sen
Business journalist tracking markets, companies, economy and crypto for Livemint. She has 6 years of experience with online and print publications. Email: meghnasen08@gmail.com
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Published: 18 Apr 2023, 12:51 PM IST
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