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Business News/ Markets / Stock Markets/  BSE SME IPO doubles allottees' money within two days of share listing

Hemant Surgical IPO: Listing of the initial public offerings (IPO) of Hemant Surgical Industries Ltd took place at a whopping premium of 90 per cent as Hemant Surgical share price opened on BSE SME exchange at 171 per share. The BSE SME stock went on to hit intraday high of 179.55 apiece, which was its close price on the listing date as well. If we compare the Hemant Surgical IPO listing price of 171 per share with the Hemant Surgical IPO price band of 85 to 90, per equity share, we can say that the public issue has delivered almost multibagger return to its lucky allottees as it touched its record high of 179.55 apiece, which is almost 100 per cent higher from its upper price band of 90 per share.

Hemant Surgical share price history

As mentioned above, the SME IPO was offered at a price band of 85 to 90 per equity share and the public issue was open for subscription from 24th May 2023 to 26th May 2023. Promoters of the company aimed to raise 24.84 crore from their public offer, which got subscribed 139.70 times. The public issue was subscribed 158.73 times in retail category whereas its NII portion was subscribed 203.26 times.

The public issue was proposed for listing on BSE SME exchange and it listed on BSE SME bourse on 5th June 2023 i.e. yesterday. The BSE stock listed at 171 and went on to close at its intraday high of 179.55 apiece levels. The BSE stock listed on the SME exchange in "MT" group of securities.

However, profit booking triggered in the scrip during early morning deals on Tuesday and the stock made an intraday low of 170.58 apiece levels on BSE.

Hemant Surgical is in the business of manufacturing, importing, assembling, and marketing a comprehensive portfolio of medical types of equipment and disposables. The company imports its products from countries like Japan, China, France, and Australia.

By the end of March 31, 2023, Hemant Surgical's net worth increased to nearly 23.60 crore compared to 13.2 crore in FY22. Total revenue was at 111.5 crore versus 105.8 crore in FY22.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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.
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Updated: 06 Jun 2023, 02:55 PM IST
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