Maxwell Engineering Solutions and HGS (India) delivered substantial listing-day gains on the NSE SME platform after securing significant investor demand. Meanwhile, debuts on the BSE SME platform ranged from a modest premium for Johnsoncab Electricals to a nearly flat launch for Vectras Enprocon. In terms of capital, Johnsoncab Electricals managed to raise Rs 56.02 crore through a fresh issue that witnessed a 23.82 times subscription rate.
Key points
The two companies that listed on the NSE SME platform experienced vastly higher subscript…: The two companies that listed on the NSE SME platform experienced vastly higher subscription levels and stronger initial trading premiums.
Offerings that launched on the BSE SME platform saw lower investor demand and delivered f…: Offerings that launched on the BSE SME platform saw lower investor demand and delivered far more subdued debut performances.
Heavy oversubscription directly correlated with superior listing-day gains across the fou…: Heavy oversubscription directly correlated with superior listing-day gains across the four debut public offerings.
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Maxwell Engineering Solutions made a blockbuster debut on the NSE SME platform, listing at Rs 300, a 90% premium over its IPO issue price of Rs 158.
HGS (India) shares also delivered strong listing gains, opening at Rs 160 on the NSE SME platform, up 40% from the issue price of Rs 120.
Johnsoncab Electricals made its debut on the BSE SME platform at Rs 238, marking a 19% premium over its IPO price of Rs 200.
In contrast, Vectras Enprocon made a flat debut on the BSE SME platform, listing at Rs 106 against its issue price of Rs 105.
Here’s everything you need to know about their IPO:
Maxwell Engineering Solutions IPO
Maxwell Engineering Solutions raised Rs 57.64 crore through its book-built IPO, comprising an entirely fresh issue of 36.48 lakh shares, with no offer-for-sale (OFS) component.The IPO was subscribed 536.80 times overall. The individual investors' portion was subscribed 556.09 times, while the QIB (Ex-Anchor) and NII categories received bids 259.45 times and 857.65 times their respective quotas.
The company had fixed the price band at Rs 150-158…
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