New Swan Multitech IPO Listing: On Thursday, the company’s shares had an incredible debut on the stock market when they were listed at a premium of 90% over the IPO price. The opening price of New Swan Multitech shares was ₹125.40, while the issue price on the BSE SME was ₹66.
Shares of New Swan Multitech extended their gains shortly after the offering and were locked at a 5% upper circuit price of ₹131.67 per. New Swan Multitech twice the money of IPO investors at this price.
Prior to listing, New Swan Multitech shares were trading at an 80% premium on the gray market.
Strong demand for the New Swan Multitech IPO, which was open from January 11 to January 15, led to the outstanding listing.
An impressive 384.26 times of people subscribed to the New Swan Multitech IPO overall. 110.69 bookings for the Qualified Institutional Buyers (QIB) category and 388.23 bookings for the retail category were made for the public offering. There were 739.72 subscriptions made to the Non-Institutional Investors (NII) section.
The ₹33.11 crore New Swan Multitech IPO was a small-cap IPO. The entire 50.16 lakh shares were issued fresh for the IPO. Price range for the IPO was ₹62–₹66 per share.
On Tuesday, January 16, 2024, the New Swan Multitech IPO allotment was completed and approved. The date of the IPO listing was set for January 18.
The IPO registrar for the New Swan Multitech is Bigshare Services Pvt Ltd, while the book running lead managers are Hem Securities and Share India Capital Services Private Limited.
Manufacturer of finely developed parts and components is New Swan Multitech. It produces goods for the contemporary farming business as well as the automotive industry.
New Swan Multitech shares were up 99.5% from their issue price at 11:25 p.m. on the BSE SME, locked at an upper circuit of ₹131.67 a share.
