Shares of Pratham EPC Projects made a bumper debut with a 51 percent premium over the issue price of Rs 75 and traded at Rs 113.30 on the NSE SME platform on March 18.
The listing has exceeded the grey market premium of Rs 27, taking the potential listing price to Rs 102. The grey market is an unofficial platform for trading in the IPO shares till the listing.
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The company aimed to garner about Rs 36 crore from the public, with a purely fresh issue of 48 lakh shares. The price band was fixed at Rs 71-75.
Established in 2014, Pratham EPC Projects Limited provides services to oil and gas utilities in India. It primarily focuses on gas pipeline projects, handling tasks such as welding, testing, and commissioning. It specialises in various aspects of project management, including engineering, procurement, construction, and commissioning.
The issue proceeds will be spent on machinery, working capital requirements, and general corporate purposes.
Beeline Capital Advisors Pvt Ltd was the book-running lead manager of the Pratham EPC Projects IPO, while Link Intime India Private Ltd was the registrar for the issue. The market maker for Pratham EPC Projects IPO was Spread X Securities.
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