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Business News/ Markets / Ipo/  Slone Infosystems share price makes a bumper debut, stock opens with 50% premium at 118.50 apiece on NSE SME
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Slone Infosystems share price makes a bumper debut, stock opens with 50% premium at ₹118.50 apiece on NSE SME

Slone Infosystems IPO debuted on NSE SME at ₹118.50, 50% higher than the issue price of ₹79. The subscription status was 667.81 times on the third day, with 1,600 shares offered in a lot size.

Slone Infosystems share price lists on NSE SME today. (https://sloneinfosystems.com/)Premium
Slone Infosystems share price lists on NSE SME today. (https://sloneinfosystems.com/)

Slone Infosystems share price made a blockbuster debut on NSE SME today. Slone Infosystems share price opened at 118.50, which is 50% higher than the issue price of 79.

The Slone Infosystems IPO subscription period began on Friday, May 3, and closed on Tuesday, May 7. The Slone Infosystems IPO price band was established at 79, with each equity share having a face value of 10. There were 1,600 shares offered in a lot size for the Slone Infosystems IPO. Multiples of 1,600 were used to submit applications for equity shares, with a minimum of 1,600 shares required.  Slone Infosystems IPO subscription status was 667.81 times on the third day. 

Also Read: Aadhar Housing Finance IPO day 3: GMP, subscription status to review. Apply or not?

The prospectus describes Slone Infosystems as an IT hardware solutions company that sells and rents IT equipment in addition to offering IT service solutions in India. In addition to selling and renting out IT hardware, such as workstations, servers, laptops, and desktops, the firm also provides IT solution services, such as cloud server management and corporate IT equipment maintenance.

The company works in a variety of business sectors, including renting out computers, selling other IT-related goods, and offering IT service solutions in addition to laptops, PCs, and computer accessories.

The company's listed peers are Brisk Technovision Ltd. (P/E of 14.61) and Benchmark Computer Solutions Ltd. (P/E of 0.03), according to the prospectus.

Slone Infosystems IPO details

The about 11.06 crore Slone Infosystems IPO comprises of a fresh issuance of 14,00,000 equity shares having a face value of 10. There is no offer-for-sale component.

The objectives of the current equity share sale are the company's general business purposes, the repayment or payback of some of its debts, and capital expenditures for the acquisition of laptops, desktop computers, SSDs, and RAM.

The Slone Infosystems initial public offering (IPO) is being registered by Kfin Technologies Limited, with Jawa Capital Services Private Limited serving as the book running lead manager. For the Slone Infosystems IPO, Aftertrade Share Broking is serving as the market maker.

Also Read: TBO Tek IPO day 3: GMP, subscription status to review. Should you apply?

Slone Infosystems IPO GMP today

Slone Infosystems IPO GMP or grey market premium is +45. This indicates Slone Infosystems share price were trading at a premium of 45 in the grey market, according to investorgain.com.

The estimated price at which Slone Infosystems shares would list is 124 per share, 56.96% more than the IPO price of 79, after accounting for the upper end of the IPO pricing range and the current premium on the grey market.

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

Also Read: Aadhar Housing Finance IPO: 10 key risks investors should know before subscribing to the issue

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: 10 May 2024, 10:01 AM IST
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