The shares of Eppeltone Engineers made a strong market debut, listing at Rs 243.30 apiece on the NSE Emerge platform on June 24. This marks a 90 percent premium over the SME IPO price of Rs 128 apiece.
The stock debuted with a market capitalisation of over Rs 330 crore. Immediately after listing, the shares of the company surged 5 percent to hit the upper circuit at Rs 255.35 apiece. The stock is now nearly 99.5 percent higher than its IPO price.
The listing premium is higher than the grey market estimates. The unlisted shares of the company were trading with a grey market premium (GMP) of over 74 percent at Rs 223 apiece, ahead of listing, as per data on Investorgain.
The metering company had launched its public issue to raise up to Rs 43.96 crore via maiden public issue of 34.34 lakh shares at a price band of Rs 125-128 apiece. The public issue was subscribed over 275 times within its three days of public bidding.
Investors could bid for a minimum of 1,000 shares, requiring a minimum investment of Rs 1.28 lakh.
Incorporated in 1977, Eppeltone Engineers, which seeks valuation of Rs 166 crore, recorded healthy financial performance in the past years with the profit growing significantly to Rs 11.2 crore in the year ended March 2025, from Rs 8.2 crore in the previous fiscal and revenue increasing to Rs 124.3 crore from Rs 78.5 crore in the same period.
The company intends to utilise IPO proceeds for its working capital requirements, installation of additional machinery at the factory, and general corporate purposes.
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