The shares of Ace Alpha Tech made a strong market debut on July 3, listing at Rs 81 apiece on the BSE SME platform. This marks a premium of over 17 percent over the SME IPO price of Rs 69 apiece.
Notably, the listing premium is lower than the grey market estimates. Ahead of the market debut, the unlisted shares of the company were trading with a grey market premium of nearly 43.5 percent over the issue price at Rs 99 apiece on the grey market, according to Investorgain.
Ace Alpha Tech had launched its IPO to raise Rs 32.23 crore from the capital markets at a price band of Rs 65-69 apiece. The maiden public issue of the company comprised a fresh issue of shares worth Rs 24.48 crore, and an offer-for-sale (OFS) of shares worth Rs 7.74 crore by the existing promoters.
The IPO saw strong investor interest during its three days of public bidding, being subscribed over 100 times from June 26 to June 30. Investors could apply for a minimum of 2,000 shares, requiring an investment of Rs 1.38 lakh, and in multiples thereafter.
Follow all IPO news here.
Ace Alpha Tech provides trading solutions and related services in the financial industry. It is associated with legal, accounting, bookkeeping, auditing activities, tax consultancy, market research and other activities.
Also read: Our LIVE blog on stock market updates.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
