Master Components made a muted market debut on September 29, listing at just a 0.28 percent premium to the issue price on NSE SME . The stock opened at Rs 140.40 against the IPO price of Rs 140.
The initial public offering, which opened for subscription on September 18 and closed on September 21, raised Rs 15.43 crore. The offer comprised a fresh issue of 7 lakh shares worth Rs 9.8 crore and an offer-for-sale of 4.02 lakh shares worth Rs 5.63 crore.
Aryaman Financial Services Limited was the book-running lead manager, while Bigshare Services Pvt Ltd was the registrar for the issue.
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Master Components' public issue was subscribed 8.2 times. The price for the issue was fixed at Rs 140. The lot size was 1,000 shares and in multiples of 1,000 thereafter.
The company said it would use the proceeds from the issue for funding working capital requirements and general corporate purposes.
Master Components manufactures plastic engineering components and sub-assemblies. The company's primary activity is moulding the materials to produce new components for Electrical, Medical, Industrial, and Automotive sector applications.
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