Aspire & Innovative Advertising lists at 4% premium over IPO price

The net proceeds from the IPO will be allocated towards vehicle purchases, financing website development and app designing, as well as for general corporate purposes.

Shares of Aspire & Innovative Advertising made a weak debut on April 3 after listing at Rs 56.50, commanding a premium of 4.63 percent over the issue price of Rs 54 on the NSE SME. The opening price is in line with the grey market premium, where the scrip was trading with marginal gains of Rs 4.

The public offer of Rs 21.97 crore was entirely a fresh issue of 40.68 lakh shares. The company operates in the consumer durables trading sector, offering a diverse range of products such as kitchen appliances, home appliances, mobile phones, and solar products from major brands like Bajaj, Prestige, Vivo, and Samsung.

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The company intends to use the proceeds from the issue to meet working capital requirements, capacity expansion, repayment of debt, and general corporate purposes.

Hem Securities Limited was the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt Ltd was the registrar for the issue. The market maker for Aspire & Innovative IPO is Hem Finlease.

The price band of the issue was fixed at Rs 51-54.

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