Exato Technologies IPO GMP soars to 114% as subscription crosses over 800 times on final day of bidding

Exato Technologies IPO GMP soars high. 

Exato Technologies IPO GMP soared to about 114 percent in the unregulated market on Tuesday as the company’s Rs 37.45-crore initial public offering (IPO) drew strong interest on the final day of bidding.

Platforms tracking they grey market activity showed the SME issue commanding a premium of around Rs 150 per share. Investorgain pegged the GMP at Rs 150, implying potential listing gains of a little over 107 percent, while IPO Watch indicated a similar trend. However, the listing gains are capped at 90 percent for the SME issues.

The BSE SME IPO was subscribed 880.96 times, according to data available on the BSE website.

The allotment of shares is likely to be finalised on Wednesday, December 3. Investors can check their allotment status on the websites of BSE and Kfin Technologies. The company’s shares are scheduled to list on the BSE SME platform on Friday, December 5.

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Exato Technologies, incorporated in 2016, provides technology-driven customer engagement and operational solutions. Its clients include MakeMyTrip, RBL Bank, IGT Solutions, IKS and WNS.

Proceeds from the fresh issue will be used primarily to meet working capital needs. Funds will also be allocated towards product development, repayment or prepayment of certain borrowings, and other general corporate purposes.

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