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IPO News: IPO of this company has made investors rich, 33% profit was made as soon as it was listed today

Photo:FILE IPO

Highlights

  • Shares of Sirma SGS Technology got listed on Friday
  • Listed with a premium of 19 per cent against the issue price of Rs 220
  • Later the shares rose by 33.18 percent to reach the level of Rs 293.

Once again the IPO seems to be coming out in the stock market. The shares of Sirma SGS Technology, a company that has introduced IPO in the stock market in recent days, got listed on Friday. As soon as the listing is done, the company has made huge profits to its investors. In the first trading day, it got listed with a premium of 19 per cent against the issue price of Rs 220.

33 percent jump

The share of Sirma was listed on the BSE at a price of Rs 262 per share, with a gain of 19.09 percent over the issue price. Later the shares rose by 33.18 percent to reach the level of Rs 293. The stock got listed on NSE at Rs 260 with a premium of 18.18 per cent. The stock climbed another 33.31 per cent to Rs 293.30.

IPO was subscribed 32 times

Last week, on Thursday, the initial public offering (IPO) of Sirma SGS Technology was subscribed 32.61 times on the last day of the issue. The company’s Rs 840 crore IPO price was fixed at Rs 209-220 per share.

This Jhunjhunwala-backed company is bringing IPO

Rare Enterprises-backed Concorde Biotech has filed draft documents with the Securities and Exchange Board of India (SEBI) to raise capital through an initial public offering (IPO). As per the draft documents, the IPO will be purely in the form of an offer for sale (OFS). The offer for sale (OFS) of 2,09,25,652 equity shares will be floated by private equity firm Quadria Capital-backed Helix Investment Holdings Pte Ltd. Concorde is one of the leading manufacturers of Fermentation based Bio Pharma APIs. It has three manufacturing units in Gujarat. The company is backed by Quadria Capital Fund and Rare Enterprises, which was founded by billionaire investor late Rakesh Jhunjhunwala along with his wife Rekha. The shares of the company are proposed to be listed on BSE and NSE.

Vikram Solar gets approval to bring IPO

Solar power company Vikram Solar has got the approval of the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). In the IPO, the company will issue fresh shares up to Rs 1,500 crore. In addition, an offer for sale (OFS) of up to 50 lakh equity shares will be brought by the shareholders. Markets regulator SEBI said on Wednesday that Vikram Solar had submitted initial IPO documents with SEBI in March. The company has received SEBI’s ‘finding’ for IPO on August 10. Sebi’s ‘conclusion’ is necessary for any company to bring an IPO. According to the documents, the proceeds from the new issue will be used to set up an integrated solar cell and solar module manufacturing facility with an annual production capacity of 2,000 MW. The company has supplied solar PV modules to customers in 32 countries till December 31, 2021. The company had an order book of Rs 4,870 crore as of December 2021. The shares of the company will be listed on BSE and NSE.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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