Encompass Design India shares list at 90% premium over IPO price on NSE Emerge

Encompass Design India shares listed with a premium on stock exchanges on December 12.

Encompass Design India shares made a strong market debut, listing at a 90 percent premium to its initial public offering (IPO) price on Friday. The issue was subscribed over 2 times between December 5-9 in the primary market.

Shares of Encompass Design India were listed at Rs 203.3 per share on Emerge platform of the National Stock Exchange (NSE), a decent premium of 90 percent from its issue price. The Rs 40.21-crore IPO had a price band of Rs 101-107 per share. The company's market capitalisation post listing of sharess in the market stood at Rs 273.96-crore.

However, by midday, the stock saw profit booking, slipping into its 5 percent lower circuit limit as IPO investors booked profits in the newly listed SME stock. At around 12:15 p.m., the shares were trading at Rs 193.15 on the NSE, down 4.99 percent from the opening price of Rs 203.30.

Encompass Design India is the consumer-brand builder that operates under the name ScaleSauce,

Proceeds from the IPO will be used to purchase and refurbish office infrastructure, fund working capital, and repay borrowings.

ScaleSauce operates a hybrid model combining manufacturing, trading, brand building and e-commerce enablement. The company creates and scales consumer brands in home and lifestyle categories, producing items such as bed linens, curtains, tableware, and comforters. It also sells food products like sauces under its own labels.

Alongside manufacturing activities, the firm provides digital, marketing and fulfilment solutions to D2C brands and corporate clients, positioning itself as both a product and service platform.

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