Shelter Pharma IPO Listing: SME IPO makes a weak debut; shares list with 4.8% discount at ₹39.97 apiece on BSE SME
Shelter Pharma IPO Listing: Shelter Pharma shares made a weak debut on the stock exchange Wednesday. Shelter Pharma shares were listed at ₹39.97 apiece on BSE SME. The listing price was at a discount of 4.83% to the issue price of ₹42.
Shelter Pharma is a Gujarat-based small- and medium-sized enterprise (SME) company and is engaged in the business of manufacturing herbal products in Human Pharma as well as the Veterinary space.
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Shelter Pharma IPO, which was opened from August 10 to August 14, was subscribed 15.25 times in total as the SME IPO received bids for 5.23 crore equity shares against 36.24 lakh shares on offer.
The issue received positive response from retail investors who’s portion was subscribed 22.28 times, and non-institutional investors’ portion was subscribed 6.59 times.
Shelter Pharma IPO was a fresh issue comprising 3,816,000 equity shares of the face value of ₹10 aggregating up to ₹16.03 crore.
The SME IPO was a fixed price issue and the company issued shares at ₹42 apiece to the investors in the IPO.
Mustaqim Nisarahmed Sabugar and Shakil Nisarahmed Sabugar are the promoters of Shelter Pharma.
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Updated: 23 Aug 2023, 10:21 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.