Exato Technologies shares list at 90% premium in bumper market debut on BSE SME platform

Exato Technologies share price Stock makes bumper 90% listing gains. 

Exato Technologies shares made a bumper stock market debut to list at 90 percent premium over its initial public offer (IPO) price on Friday, following a massive 881 times subscription between November 28-December 3 in the primary market.

Shares of Exato Technologies were listed at Rs 266 per share on the SME platform of the BSE, a strong premium of 90 percent. The Rs 37.45 crore issue had a price band of Rs 133-140 per share. The company's market capitalization post listing of shares stood at Rs 267.74 crore.

Exato Technologies share market debut was at par with the expectations in the grey market, which had expected maximum listing gains for the issue.

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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