Shares of Creative Graphics Solutions listed at Rs 175 on the NSE SME platform, a premium of 106 percent over the issue price of Rs 85.
The debut exceeded expectations as the stock was trading at a premium 77.65 percent in the grey market, which refers to unofficial, over-the-counter (OTC) transactions in a security before listing on the exchanges.
The Rs 54.40-crore IPO was subscribed 201.86 times, reflecting strong investor interest and confidence in the offering.
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Established in 2014, Creative Graphics Solutions specialises in the production of flexographic printing plates. Formerly known as Tanushii Industries Private Limited, the company offers a range of products including digital flexo plates, conventional flexo printing plates, letter press plates, metal back lates and coating plates.
The price band of the issue was at Rs 80-85. The company plans to use the net proceeds from the fresh issue to meet the working capital requirements, repay or prepay borrowings, for capital expenditure and pursuing inorganic growth through unidentified acquisitions among others.
Corporate Capitalventures Pvt Ltd was the book running manager to the issue and Bigshare Services Pvt Ltd the registrar.
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