Nephro Care India shares list with 90% premium at Rs 171 apiece on NSE SME

Nephro Care India’s shares debuted brilliantly on the NSE SME, where they were listed on July 5 for Rs 171 a share, commanding a premium of 90 per cent over the share issue price of Rs 90 on the upper price band. This is the first SME IPO to make its debut since the NSE set a 90% cap on SME stocks during the open session on listing day.

The Rs 41.26 crore IPO raised more than Rs 20,000 crore in bids, making it the first SME IPO to do so. On the last day, the Nephro Care IPO garnered 715.78 times its subscription, with 22.98 crore bids compared to 31 lakh shares on offer. Non-institutional investors subscribed 1,789.19 times, whereas retail investors subscribed 634 times, and qualified institutional buyers (QIBs) subscribed 245 times.

The public issue opened for subscription on June 28 and closed on July 3, 2024, with prices ranging from Rs 85 to Rs 90 per share. The public issue is totally a fresh issue of Rs 45.84 lakh shares, with investors required to apply for a minimum of 1,600 equity shares and multiples thereof.

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