Multibagger debut! Shivalic Power Control shares list at 211% premium over IPO price
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The shares of Shivalic Power Control listed on the NSE SME platform with a premium of 211% on Monday. The stock debuted at Rs 311 as against an issue price of Rs 100. Ahead of the listing, the company's shares traded with a premium of Rs 175 in the unlisted market. The IPO, which was completely a fresh equity sale of 64.32 lakh shares, was subscribed over 250 times at close, driven by strong interest from retail and non-institutional investors. The net proceeds from the public offer will be used for working capital requirements, capital expenditure, inorganic growth through unidentified acquisition for company and general corporate purposes. Shivalic Power Control is an LT and HT electric panel manufacturer with an operating history of 20 years. It is a technology-driven company with a strong focus on quality, design and product development, which has allowed it to develop products suited to customers’ requirements.Also Read: IPO Cale...