Solve Plastic Products’ stock made a decent debut on the markets today, August 21. The stock was launched for ₹102 per share on NSE SME, a 12% premium to its issue price of ₹91.
Solve Plastic Products’ ₹11.85 crore IPO was available for subscriptions from August 13-16, 2024. The IPO included 13.02 lakh shares priced at ₹91 each. The minimum lot size for regular investors was 1,200 shares, requiring an investment of ₹1,09,200. High-net-worth individuals (HNI) are required to invest in at least two lots (2,400 shares), totalling ₹2,18,400.
During its three-day bidding period, the IPO attracted a lot of interest, with an overall subscription rate of 34.23 times. A total of 4.23 crore shares were bid for by investors out of the 12.36 lakh shares that were offered. With a subscription rate of 46.76 times, the retail investors’ category had the highest demand, followed by the “Others” category with 19.47 subscriptions.
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