Brisk Technovision IPO Lists Tepidly on BSE SME, Locked at Lower Circuit Post Debut

Brisk Technovision IPO Lists Tepidly on BSE SME, Locked at Lower Circuit Post Debut

VoM News Desk | January 31, 2024 | 10:22 AM IST | Breaking News | Follow on Google News

Brisk Technovision IPO Lists Tepidly on BSE SME, Locked at Lower Circuit Post Debut

Brisk Technovision IPO Lists Tepidly on BSE SME, Locked at Lower Circuit Post Debut

Brisk Technovision’s initial public offering (IPO) witnessed a tepid debut on the BSE SME platform. The share price was listed at ₹175, reflecting a 12.18% increase from the issue price of ₹156. However, after the lukewarm debut, Brisk Technovision shares were locked at the 5% lower circuit.

IPO Details and Subscription Status

Brisk Technovision’s IPO, open for subscription from January 23 to January 25, had a price band of ₹156 per share. The lot size consisted of 800 shares, and investors could bid for a minimum of 800 shares and in multiples thereof. The issue price was 15.6 times the face value of ₹10.

The subscription status for Brisk Technovision IPO was robust, with an overall subscription of 47.10 times on day 3. Retail investors showed strong interest, subscribing 35.87 times, while non-institutional buyers subscribed 58.14 times.

Listing Performance and Market Sentiment

Despite the initial optimism with a 12.18% listing premium, Brisk Technovision shares were locked at the 5% lower circuit post the debut. The grey market premium (GMP) for Brisk Technovision IPO was +35, suggesting a premium of ₹35 in the unofficial market. The estimated listing price, considering the upper end of the IPO price band and the current GMP, was around ₹191 apiece, indicating a 22.44% increase over the IPO price.

Investors and market observers are closely monitoring the performance of Brisk Technovision shares, assessing factors that may influence the stock in the coming sessions. The lower circuit after listing suggests cautious market sentiment and underscores the need for a watchful approach in the post-listing period.

VoM News Desk

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