Admach Systems SME IPO listing: Shares of Admach Systems listed at a 20% discount to the issue price of 239 on Wednesday, 31 December. The SME stock opened at ₹191.20, down 20% with respect to the issue price, but rebounded to hit the upper price band of ₹200.75 as the day progressed. However, the stock’s upper price band level is still 16% down with respect to the issue price.
The stock failed to meet the listing expectations of grey markets, as sources indicate that the last grey market premium (GMP) of the stock suggested it was to list at ₹250.
Admach Systems designs and builds machines for the Indian and global engineering industry.
As per the Red Herring Prospectus (RHP) of the IPO, Admach Systems offers customised solutions to various industries, including steel, automobile, food, tooling, and other engineering industries.
Its areas of specialisation are special-purpose machines, automation, assembly machines, packaging machines, product design and robotic material handling systems.
Admach Systems IPO details
The BSE SME IPO opened for public subscription on Tuesday, 23 December and concluded on Friday, 26 December. Share allotment was finalised on Monday, 29 December.
According to media reports, the IPO saw an overall subscription of over 4 times, with the retail portion booked nearly 4 times.
Priced at ₹227 and ₹239 per equity share, the SME IPO aimed to raise ₹42.60 crore through a fresh issue of 18 lakh shares.
Aftertrade Broking was the book-running lead manager, and Maashitla Securities was the registrar of the issue.
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