5 year old company created a stir in the stock market, investors’ money almost doubled on the day of listing

Knews Desk– On Tuesday, an SME company made such a strong debut in the stock market that it surprised investors by giving excellent returns on the very first day. just five years old Millworks Technologies The shares were listed on the BSE SME platform with a premium of 90 per cent. Shortly after the listing, the stock gained further momentum and reached almost 100 per cent above the issue price. Due to this, the money of investors investing in IPO almost doubled. Shares of the company Rs 331 Against the issue price per share Rs 628.90 Listed on. After this, shares during trading Rs 660.30 Reached. That means the investors who were allotted shares in the IPO saw returns of almost 100 percent on the very first day. This type of listing is rarely seen in the SME segment.

Millworks Technologies’ IPO was already in discussion among investors. This issue, which opened from 14th to 16th July, received a tremendous response and the total 193.14 times Subscribed. In this issue of Rs 160.34 crore, about 35.18 lakh shares were issued. 67.96 crore shares Applications were received for. Retail investors showed the most enthusiasm and their share 216.46 times Subscribed. At the same time, in the category of non-institutional investors also 194.05 times Subscription registered. Total in this IPO 48.44 lakh new equity shares were issued. This did not include Offer for Sale (OFS). The company has issued a price band 315 to 331 rupees per share was fixed. The lot size was kept at 400 shares, while for retail investors the minimum was two lots i.e. 800 shares It was mandatory to apply for. For this according to the upper price band Rs 2,64,800 Had to invest.

If an investor had been allotted 800 shares in the IPO, his total investment would have been Rs 2,64,800. At the same time, the share price increased on the day of listing. Rs 660.30 The total value of these 800 shares upon reaching Rs 5,28,240 It’s done. That is, the investor has to Rs 2,63,440 Got a profit of Rs., which is almost equal to 100 percent return. Even before the listing, there was a positive atmosphere in the market regarding the IPO of the company. Its premium in gray market is around Rs 395 per share, which was expected to lead to a strong listing. The company also got closer to anchor investors Rs 44 crore In which many institutional investors participated. The company has said that the amount raised from the IPO will be used to expand the business and meet the operational needs. This includes approximately Rs 61.03 crore Installation of new machinery and plant, Rs 81.50 crore Working capital requirements and the remaining amount will be spent on general corporate purposes.

The spectacular listing of Millworks Technologies has once again shown that with a strong business model and investor confidence, even SME companies can perform well in the stock market. However, market experts advise investors to thoroughly evaluate the company’s financial position, risks and future prospects before investing in any IPO or share.