Sahasra Electronics shares on October 8 had hit third consecutive third upper circuit after listing. The stock quoted at Rs 622.35 per share on the NSE on October 8, hitting the highest permissible trade limit for the day of 5 percent.
Additionally, the company's board meeting is set to take place on October 10 to discuss the utilisation of IPO proceeds as disclosed in the Red Herring Prospectus (RHP) or Prospectus.
The shares of the company are trading higher than 5 - 200 day moving averages. In volume terms, 3.61 lakh shares of the company were traded on the NSE during the day, generating a total turnover of Rs 22.09 crore.
Sahasra Electronics was one of the biggest SME issues in the primary market this year. Shares of the company listed at Rs 537.70, commanding a massive premium of 90 percent over the issue price of Rs 283 per share on the NSE SME.
It had a lot size of 400 shares. The company's market capitalization has jumped to Rs 1,555.42 crore.
The listing gains even topped grey market estimates where shares were trading at a premium of 60 percent.
Incorporated in 2023, Sahasra Electronic Solutions Limited is an Electronic System Design and Manufacturing (ESDM) company, operating from its Noida plant. The company offers a range of products and solutions, including printed circuit board (PCB) assembly, Box Build, LED lighting, memory, IT accessories, and computer hardware.
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