Acetech E-Commerce share price makes flat debut on NSE SME, lists at the IPO price of ₹112

Acetech E-Commerce share price made a flat debut in the Indian stock market on Monday, March 9. The stock listed at the initial public offering (IPO) price of ₹112 apiece on the NSE SME.

This means that the IPO allottees made no gain or loss on the Acetech E-Commerce IPO listing.

The listing of Acetech E-Commerce IPO came in line with the market expectations. Ahead of the listing, the GMP of the Acetech E-Commerce IPO was ₹0, indicating a flat debut.

Acetech E-Commerce share price rose as much as 5% to ₹117.60 apiece immediately after listing.

Acetech E-Commerce IPO details

The ₹49-crore IPO, which was open for subscription from February 27 to March 4, witnessed moderate investor participation, with the issue subscribed 1.14 times overall. The retail segment was subscribed about 1.16 times, while the non-institutional investor category saw 1.57 times subscription. The portion reserved for qualified institutional buyers was subscribed just 1%.

The public offering consisted entirely of a fresh issue of 43.7 lakh equity shares, raising nearly ₹48.95 crore. The allotment of the Acetech E-Commerce IPO was finalised on Thursday, March 5.

The proceeds from the IPO will mainly be utilised for marketing and advertising expenses, meeting working capital needs, financing potential acquisitions, and supporting general corporate purposes.

Incorporated in 2014, Acetech E-Commerce operates in the e-commerce services segment, with business activities that include dropshipping, teleshopping, and cross-border online sales. The company manages the entire e-commerce value chain, covering product research, sourcing and procurement, warehousing, order fulfilment, marketing, and online marketplace management.

The company offers a variety of consumer-focused products, including wellness items, accessories and equipment, which it sells through online platforms and distribution networks. To support order fulfilment across regions, it operates warehouses in Bhiwandi, Bengaluru and Delhi.

Gretex Corporate Services is the book-running lead manager, and Skyline Financial Services is the registrar of the issue.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.