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Business News/ Markets / Ipo/  Stellar Debut: SAR Televenture share price lists at 90% premium at 105 on NSE SME
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Stellar Debut: SAR Televenture share price lists at 90% premium at ₹105 on NSE SME

SAR Televenture share price makes stellar debut on NSE SME, listed at ₹105 per share, 90.9% higher than issue price. SAR Televenture IPO's price band set at ₹52-55, with minimum bid requirement of 2,000 shares.

SAR Televenture IPO shares list on NSE SME today. (https://sarteleventure.com/)Premium
SAR Televenture IPO shares list on NSE SME today. (https://sarteleventure.com/)

SAR Televenture IPO listing date: SAR Televenture share price made a stellar debut on NSE SME today. On NSE SME, SAR Televenture share price today was listed at 105 per share, 90.9% higher than the issue price of 55.

SAR Televenture IPO's price band is set in the range of 52 to 55. Investors bid for a minimum of 2,000 shares and in multiples thereof.

Also Read: ESAF Small Finance Bank IPO day 3: Issue subscribed over 73 times, retail portion booked 16.97 times

The company reserved not more than 50% of the shares in the public issue for QIB, not less than 15% for NII, and not less than 35% for retail investors.

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SAR Televenture Limited provides telecom network operators with telecom solutions. The company's operations include tower installation and commissioning for 4G and 5G networks, sales of network equipment, and optical fibre cable (OFC) systems.

Also Read: SAR Televenture IPO: Check latest GMP, subscription status on day 3, other key details

SAR Televenture IPO details

SAR Televenture IPO, which is worth 24.75 crore, is completely a fresh issue of 4,500,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The net proceeds of the issue will be used by the company to finance the installation of 5G/4G towers, the full or partial repayment and/or prepayment of some outstanding secured borrowings, the financing of the company's working capital needs, and general corporate purposes.

Also Read: ASK Automotive IPO: Check out 10 key things to know from RHP before investing

The SAR Televenture IPO's book running lead manager is Pantomath Capital Advisors Pvt Ltd, and the registrar is Skyline Financial Services Private Ltd.

M.G. Metalloy Private Limited is the promoter of the company.

Also Read: SAR Televenture IPO allotment finalised: Here's how to check status

SAR Televenture IPO GMP today

SAR Televenture IPO GMP or grey market premium is +53. This indicates the SAR Televenture share price was trading at a premium of 53 in the grey market on Wednesday, according to investorgain.com.

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

Also Read: Baba Food Processing IPO: Check latest GMP, subscription status on day 3, other key 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: 08 Nov 2023, 10:02 AM IST
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