Active Stocks
Wed Jun 12 2024 15:59:40
  1. Tata Steel share price
  2. 182.25 0.50%
  1. Tata Motors share price
  2. 988.60 0.15%
  1. Power Grid Corporation Of India share price
  2. 324.60 2.54%
  1. NTPC share price
  2. 371.35 1.02%
  1. State Bank Of India share price
  2. 839.15 0.47%
Business News/ Markets / Ipo/  Veritaas Advertising share price makes a bumper debut, stock opens with 141% premium at 275 apiece on NSE SME
BackBack

Veritaas Advertising share price makes a bumper debut, stock opens with 141% premium at ₹275 apiece on NSE SME

Veritaas Advertising share price debuts positively on NSE SME with share price opening at ₹275, 141% higher than the issue price of ₹114.

Veritaas Advertising share price lists on NSE SME today. (www.veritaasadvertising.com)Premium
Veritaas Advertising share price lists on NSE SME today. (www.veritaasadvertising.com)

Veritaas Advertising share price made a bumper debut on NSE SME today. Veritaas Advertising share price opened at 275, which is 141.22% higher than the issue price of 114.

Veritaas Advertising IPO subscription period ran from Monday, May 13, until Wednesday, May 15. Veritaas Advertising price band was set between 109 and 114, with a face value of 10. Each lot in the Veritaas Advertising IPO had 1,200 shares. Veritaas Advertising IPO subscription status on the last day of bidding was 621.62 times, as per chittorgarh.com.

Also Read: Veritaas Advertising IPO allotment finalised today; latest GMP, step-by-step guide to check status

The breakdown of equity shares is as follows: up to 37,200 equity shares are allotted to market makers; up to 1,06,800 equity shares are allocated to non-institutional investors (NIIs); up to 2,48,400 equity shares are allocated to retail individual investors (RIIs); and up to 1,74,000 equity shares are allotted to QIB Anchor Portion.

Being a completely integrated advertising agency, the business provides 360-degree services on several platforms. In addition to having advertising space in West Bengal, Guwahati, and Shillong, the firm is one of the few media companies that owns marketing and advertising agencies. The company also has operations in Delhi, Mumbai, and Pune. In order to lessen their reliance on outside parties and provide integrated services, the firm operates and places advertisements on police booths and outdoor hoardings.

Veritaas Advertising IPO details

Veritaas Advertising IPO, which is worth about 8.48 crore, consists of a fresh issue of 744,000 equity shares with a face value of 10. There is no offer-for-sale component.

The net proceeds of the offering will be utilised by the company for capital expenditures related to the construction of new police booths in West Bengal, Assam, Maharashtra, and Delhi; traffic signal point displays via Pole Kiosks in Kolkata, Mumbai, and Pune; and general corporate purposes.

Mas Services Limited is the registrant of the Veritaas Advertising IPO, while Horizon Management Private Limited is the book running lead manager. Horizon Financial Consultants is marketing the Veritaas Advertising initial public offering.

Also Read: Veritaas Advertising IPO: Issue booked over 621 times on day 3, retail portion sees huge demand. Check latest GMP

Veritaas Advertising IPO GMP today

Veritaas Advertising IPO GMP today or grey market premium is +145. This indicates Veritaas Advertising share price were trading at a premium of 145 in the grey market, according to investorgain.com.

Given the upper end of the IPO price band and the current grey market premium, the expected listing price for Veritaas Advertising shares is 259 per, which is 127.19% more than the IPO price of 114.

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

Also Read: Veritaas Advertising IPO to open on May 13; price band set at 109-114 apiece

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 21 May 2024, 10:01 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started