Shares of WOL 3D India made a decent stock market debut on the bourses on September 30 after listing at Rs 180, a premium of 20 percent over the issue price of Rs 150 on the National Stock Exchange's SME platform.
The listing gains miss grey market estimates where shares were trading at a premium of about 45 percent. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day.
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The Rs 22.5 crore public offer, a combination of a fresh issue and an offer for sale, received an overwhelming response from investors after it was subscribed a massive 374 times. Non-institutional investors were at the forefront, buying 749 times the portion reserved for them while retail investors purchased 368 times their allotted quota. QIBs or qualified institutional buyers lapped up 101 of the reserved quota.
Incorporated in 1988, WOL 3D India offers 3D printing solutions, enabling easier prototyping and finding applications across various sectors such as manufacturing, education, engineering, architecture, interior design, fashion design, product design, and medical and dental fields. The company’s product portfolio includes hardware such as 3D printers, scanners, laser engravers, and 3D pens, as well as consumables like 3D filaments and resins. Additionally, it provides 3D prototyping and other related services.
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The company plans to utilize the funds raised through the fresh issue for several purposes, including repaying certain outstanding borrowings, meeting working capital requirements, and covering general corporate expenses.
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