Apex Ecotech shares were listed on the NSE Emerge platform with a premium of 90 percent on December 4 after 421 times overall subscription to the Rs 25.54 crore SME issue.
The shares of Apex Ecotech were listed at Rs 138.70 per share on the NSE SME, a premium of 90 percent against the issue price of Rs 73.
The share listing was better than the expectations in the grey market. Ahead of the listing, the shares of Apex Ecotech were commanding a GMP of Rs 45 over the IPO price, indicating nearly 62 percent listing gains.
The price band for the issue was Rs 71-73 per share.
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Non-institutional investors provided strong support to the issue, buying 1,182.7 times the allotted quota, followed by retail investors who picked 329.8 times the reserved portion, while the part set aside for qualified institutional buyers was subscribed 136.4 times.
The water and wastewater treatment solutions provider will spend IPO funds for its working capital requirements, general corporate purposes, and public issue expenses.
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