3C IT Solutions and Telecoms India IPO Details

3C IT Solutions and Telecoms India IPO Details/company website

VoM News Desk | June 13, 2024 | 05:10 PM IST | Breaking News | Follow on Google News

3C IT Solutions and Telecoms India IPO Details

3C IT Solutions and Telecoms India IPO Details

Market Debut:

• Listing Price: ₹43.01 per share on BSE SME
• Issue Price: ₹52 per share
• Listing Discount: 17.29% below the issue price

Grey Market Premium (GMP):

• Current GMP: ₹0 per share
• Market Sentiment: No premium or discount in the grey market

IPO Details:

• IPO Open Date: June 4, 2024
• IPO Close Date: June 7, 2024
• Allotment Date: June 10, 2024
• Listing Date: June 12, 2024
• Price Band: ₹52 per share
• Total Issue Size: ₹11.44 crore
• Fresh Issue: 17 lakh equity shares, aggregating to ₹8.84 crore
• Offer for Sale (OFS): 5 lakh shares, aggregating to ₹2.60 crore

Subscription Details:

• Total Subscription: 20.21 times
• Retail Category: 29.79 times
• Other Category: 10.63 times

IPO Management:

• Lead Manager: Kreo Capital Pvt Ltd
• Registrar: Skyline Financial Services Pvt Ltd

Performance Insight:
3C IT Solutions & Telecoms (India) made a weak debut on the BSE SME, listing at a significant discount to its issue price. Despite strong subscription numbers, the listing did not meet market expectations, reflecting a challenging market environment or investor sentiment.

Summary:
The IPO of 3C IT Solutions & Telecoms saw robust subscription but underwhelmed on the listing day with a notable discount. The lack of a grey market premium indicated tepid investor enthusiasm, despite the strong subscription rates. The company’s future market performance will likely depend on its operational execution and broader market conditions.

Original source: Mint

VoM News Desk

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