The shares of Helloji Holidays made a muted stock market debut on December 9, listing flat at the IPO price of Rs 118 per share. The stock then surged 5 percent to hit the upper circuit at Rs 123.90 per share.
Helloji Holidays debuted with a market capitalization of Rs 40.5 crore. Its m-cap at the end of the debut day stood at Rs 42.50 crore.
Listing vs grey market estimates:
The listing has missed grey market estimates. Ahead of listing, the unlisted shares of the travel solutions provider were trading with 7.63 percent grey market premium (GMP) over the IPO price, according to data on Investorgain and IPO Watch.
About Helloji Holidays IPO:
Helloji Holidays had launched its IPO earlier this month to raise nearly Rs 11 crore from the primary market entirely through a fresh issue of 9.29 lakh shares and no offer for sale (OFS) component. The price band for the IPO was set at Rs 110-118 per share.
Investors could bid for a minimum of 1,200 shares, requiring an investment of Rs 1,41,600 at the upper end of the price band, and in multiples thereafter. The IPO saw strong investor interest during its three days of public bidding, being subscribed more than 27 times between December 2 and December 4.
Qualified Institutional Buyers (QIB) showed the most interest in the IPO, booking their reserved portion more than 34 times. Non Institutional Investors (NII) subscribed their reserved portion around 31 times, while that kept for retail investors was booked over 21 times.
How will the IPO proceeds be used?
Helloji Holidays plans to use the fresh issue proceeds to meet the working capital requirements of the company, along with capital expenditure towards the purchase of software and general corporate purposes.
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