E-Factor Experiences, an event services and technology-based installations provider, saw its shares list at a 53.33% premium on the NSE SME platform on Monday. The company's initial public offering (IPO), which issued 34.56 lakh fresh shares without an offer-for-sale component, was oversubscribed by 73.14 times, raising ₹25.92 crore ($3.5 million).
The opening price of E-Factor's shares was ₹75, against an issue price of ₹115 (USD1 = INR83.217), set within a price band of ₹71-75 per share. This robust listing follows the company's pre-IPO fundraising where it secured ₹7.38 crore from anchor investors such as Rajasthan Global Securities Private Limited and Meru Investment Fund.
Hem Securities managed the book-running process, with Maashitla Securities serving as the registrar and Hem Finlease functioning as the market maker. Following the IPO, the stake of promoters Jai Thakore, Samit Garg, Aruna Garg, and Manika Garg has been reduced to 73.59%.
The proceeds from the IPO are earmarked for investing in subsidiaries, meeting working capital needs, repaying debts, and other corporate purposes. The successful listing of E-Factor Experiences illustrates the strong investor interest in companies operating in the event services and technology-based installations sector.
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