Bumper listing: Veekayem Fashion lists at a premium of almost 79 per cent! Did you apply for this SME IPO?
Today, we witnessed a big blockbuster listing of SME IPO on NSE SME Exchange
The recent trend that’s ongoing at the box office is something which is hard to miss! Bollywood movies are failing to make an impact while South Indian movies are becoming everyone’s favourite and making hefty collections, which was done some time back by David (Underdog)! But then, what have these to do with the stock market? It’s because in the Indian markets as well, some of the recently-listed big fat IPOs failed to mark a stellar performance, and instead, SME IPOs stole the show and left everyone spellbound!
Today, we witnessed a big blockbuster listing of SME IPO on NSE SME Exchange. The stock’s name is Veekayem Fashion & Apparels Limited. The issue opened on August 05, 2022, and closed on August 11, 2022. The issue price was Rs 28 while the issue size stood at Rs 4.44 crore. Meanwhile, the lot size was 4,000 shares.
Veekayem Fashion & Apparels Limited is engaged in the business of weaving and garment manufacturing. The IPO was subscribed 301.47 times. The public issue subscribed 247.09 times in the retail category and 355.85 times in the NII category. The retail category was offered 50 per cent of the net offer while the remaining 50 per cent of the net offer was for NII (HNI).
On Monday, the stock jumped nearly 79 per cent and it is trading at the level of Rs 50. The stock touched an intraday high of Rs 52.35 and a low of Rs 47.45.