The shares of Influx Healthtech made a strong market debut, listing at Rs 132.50 apiece on the NSE Emerge platform on June 25. This marks a premium of over 38 percent over the SME IPO price of Rs 96 apiece.
Notably, the listing premium is higher than the grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a 21 percent grey market premium over the IPO price at Rs 116 apiece in the grey market, according to Investorgain.
The SME IPO of the Mumbai-based healthcare focused company saw strong investor interest during its three days of public bidding, being subscribed a whopping 187.32 times between June 18 to June 20.
Also read: Arisinfra Solutions shares make weak market debut, list at 8% discount to IPO price on NSE
The company had launched its public issue to raise nearly Rs 59 crore at a price band of Rs 91-96 per share. Investors could apply for a minimum of 1,200 shares, requiring a minimum investment of Rs 1.15 lakh, and in multiples thereafter.
The IPO proceeds will be utilised for setting up of manufacturing facilities for nutraceutical, and veterinary food divisions. Further, the funds will be used for purchase of machineries for homecare and cosmetic division; and the remainder for general corporate purpose.
Notably, the market is currently buzzing with five mainboard and three SME IPOs being open for public bidding. Follow all IPO news here.
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