How it has done since the IPO
Closing prices since listing: 26 Oct ₹60.05, 27 Oct ₹57.30, 28 Oct ₹57.00, 29 Oct ₹59.45, 30 Oct ₹62.30, 2 Nov ₹55.85, 3 Nov ₹54.20, 4 Nov ₹53.90, 5 Nov ₹50.00, 6 Nov ₹50.00.
| Listing day | 13 Feb 2025 |
| Open / high / low / close | ₹123.00 / ₹123.00 / ₹116.85 / ₹116.85 |
| Shares traded on NSE | 4,14,000 |
| Market value at the listing-day close | ₹128 cr |
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The IPO's journey
Anchor5 Feb
Opens6 Feb
Closes10 Feb
Allotment11 Feb
In demat12 Feb
Listing13 Feb
Lock-in 50%12 Mar
Lock-in rest11 May
Subscription
Shares offered and bid, by group
| Investor category | Shares bid for |
|---|
| Institutions (QIB) | 29,70,000 |
| HNI / NII | 22,35,000 |
| Retail | 43,36,000 |
| Total | 95,41,000 |
NSE does not publish the shares offered to each category for this issue, so times subscribed cannot be shown. NSE and BSE bids together, as of 10 Feb 2025 19:00.
Who the issue was for
Bids by price
Top price ₹123 71.48%Cut-off 28.13%Lower prices 0.4%
Applications from individual investors
4,336 applications in the individual investors' category.
NSE does not publish the shares set aside for this category for SME issues, so the chance of allotment cannot be worked out exactly. Winners are picked by lottery.
Lot size by investor type
| Application | Lots | Shares | Amount |
|---|
| Individual investor (minimum) | 1 | 1,000 | ₹1,23,000 |
| HNI (minimum) | 2 | 2,000 | ₹2,46,000 |
At ₹123 a share. In SME IPOs individuals must bid for at least 1 lots.
Anchor investors
| Anchor bid date | 5 Feb 2025 |
| Anchor shares | 8,71,000 |
| Raised from anchors | ₹10.71 cr |
| Lock-in ends for the first 50% (30 days) | 12 Mar 2025 |
| Lock-in ends for the remaining 50% (90 days) | 11 May 2025 |
Anchor investors are large funds that buy the day before the IPO opens. SEBI locks in half their shares for 30 days from the allotment and the rest for 90 days; they can sell from the next trading day. Traders watch these dates because extra selling can come in.
Financials and valuation
| At issue price | Now |
|---|
| Market value | ₹135 cr | ₹55 cr |
| P/E (last 12 months' profit) | 18.0 | 7.4 |
| Revenue, last 12 months | ₹91 cr |
| Profit, last 12 months | ₹7 cr |
| Return on equity | – |
| Debt to equity | – |
From results the company filed with NSE (latest period to 31 Mar 2026). Twelve-month figures need four quarters of results, so they fill in over the first year after listing.
Other recent IPOs: Industrial Products