Share Samadhan's IPO Fails To Enthuse Investors, Lists With Discount On BSE SME Platform

New Delhi, Sep 16 (KNN) Share Samadhan, a company specialising in legal funding assistance, made its debut on the Bombay Stock Exchange's SME platform on September 16, 2024.

The stock opened at Rs 73, slightly below its initial public offering (IPO) price of Rs 74 per share, representing a 1.28 percent discount.

The muted listing aligns with pre-market expectations, as shares showed no premium in unofficial grey market trading leading up to the debut.

The company's Rs 24-crore public offer consisted entirely of fresh issuance, amounting to 35 lakh shares.

Despite recent trends of significant oversubscription in the SME IPO space, Share Samadhan's offering received a moderate response over its three-day subscription period.

Overall, the IPO was subscribed 14.6 times, with varying interest across investor categories. Non-institutional investors showed the highest demand, oversubscribing their portion by 22 times, followed by retail investors at 18 times.

Qualified institutional buyers (QIBs) displayed comparatively less enthusiasm, subscribing 2.6 times their allotted quota.

Share Samadhan's business model focuses on providing expert guidance and financial assistance for legal proceedings, aiming to facilitate access to justice without financial barriers.

The company has outlined several objectives for the utilisation of the IPO proceeds.

These include investment in technology infrastructure, funding for a potential acquisition either domestic or international, meeting working capital requirements, and allocating funds for general corporate purposes and issue-related expenses.

(KNN Bureau)