Shree Karni Fabcom shares hit 5% upper circuit after listing at 14.5% premium

  • Shree Karni Fabcom share price today listed on the NSE EME Emerge platform at 260 apiece

Asit Manohar
Updated14 Mar 2024, 10:38 AM IST
Shree Karni Fabcom share price further extended its listing gains and went on to climb to a new peak of  <span class='webrupee'>₹</span>273 apiece on NSE, locking in a 5% upper circuit within a few minutes of the share listing.
Shree Karni Fabcom share price further extended its listing gains and went on to climb to a new peak of ₹273 apiece on NSE, locking in a 5% upper circuit within a few minutes of the share listing.(Photo: Courtesy NSE ’X’ channel account)

Stock market today: Despite weakness in the Indian stock market, Shree Karni Fabcom share price today listed on the NSE EME Emerge platform at 260 apiece, delivering around 14.53 percent listing gain to the share allottees against the issue price of 220 to 227 per equity share. However, the NSE SME stock didn't stop here only. The SME stock further extended its listing gains and went on to touch an intraday high of 273 apiece, locking-in a 5 percent upper circuit within a few minutes of the share listing.

Shree Karni Fabcom IPO details

Shares of the SME company were offered at a price band of 20 to 227 per equity share and the public issue was open for bidding from 6th to 11th March 2024. In four days of bidding, the SME IPO received a healthy subscription demand. As per the Shree Karni Fabcom IPO subscription status, the book build issue was subscribed over 112 times which was reflected in today's share listing as well.

A bidder was able to apply for this NSE SME IPO in lots. One lot of the Shree Karni Fabcom IPO comprised 600 company shares, which means minimum investment of a luckey allottee in the retail segment would be 1,36,200 ( 227 x 600). The SME IPO worth 42.49 crore was purely a fresh issue. 

Ahead of the issue opening, Shree Karni Fabcom IPO raised 12.09 crore from the anchor investors.

As per the Shree Karni Fabcom IPO RHP (Red Herring Prospectus), the net proceeds of the public issue will be utilized for funding the dyeing unit at Navsari District, Surat, Gujarat; purchasing new machines proposed for the Palsana, Surat, Gujarat unit; funding the working capital of the company; and general corporate funding requirement .

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First Published:14 Mar 2024, 10:38 AM IST
HomeMarketsIPOShree Karni Fabcom shares hit 5% upper circuit after listing at 14.5% premium

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