The other IPO which also received huge responses were Happiest Minds Technologies and Chemcon Speciality Chemicals, which was subscribed 150.98 times and 149.3 times respectively. Interestingly, both these stocks have seen bumper listing gained over 100 percent. Let's see how the IPO subscription and listing happened in 2020 so far, considered only IPOs issue size over Rs 100 crore.
Spurred by investor interest, as many as 100 small and medium enterprises (SME) are expected to list on the BSE's platform this year, a top official of the bourse said today.
Last year, around 55 SME companies had tapped the IPO route and got listed on the exchange's platform.
"The IPO pipeline is good, which shows the confidence among the companies. We are expecting around 100 SME IPOs in 2018," BSE SME Head Ajay Thakur told PTI.
Moreover, as many as 22 companies have already secured BSE's approval, while another 19 firms are awaiting its go- ahead.
Funds raised through the issue will be used for business expansion plans, working capital requirements and other general corporate purposes.
These companies belong to a wide range of sectors, like logistics services, media, automotive components, pharma, infrastructure and hospitality, among others.
"Most of the companies that approached us are from Gujarat and Maharashtra," he added.
Governance structures, improved credit rating, easy finances and branding are some of the key benefits for listing on SME platform.
BSE had launched SME platforms in March 2012 to provide opportunity to such firms to raise capital for growth and expansion. Since then a total of 224 companies got listed on its SME segment and 44 of these firms have migrated to the main board platform.
Currently, there are 180 companies listed on the BSE's SME platform. This segment has helped these firms to raise a staggering Rs 1,834 crore.