SME IPO Sahasra Electronics Solutions Debuts With 90% Premium

New Delhi, Oct 4 (KNN) Sahasra Electronics Solutions, one of the largest small and medium enterprise (SME) initial public offerings (IPOs) in recent times, made a striking debut on the NSE SME exchange.

The company's shares opened at Rs 537.70, marking a substantial 90 percent premium over the issue price of Rs 283 per share.

The listing surpassed grey market expectations, where shares had been trading at a 60 percent premium prior to the official launch.

The Rs 186-crore public offer, comprising both fresh issue and offer for sale components, garnered significant investor interest during its three-day subscription period.

The issue was oversubscribed by 122 times, with qualified institutional buyers leading the charge at 100.80 times subscription. Non-institutional buyers showed even greater enthusiasm, subscribing 260.38 times, while retail investors participated at 73.97 times, according to data from the exchanges.

Sahasra Electronic Solutions Limited, incorporated in 2023, is an Electronic System Design and Manufacturing (ESDM) company based in Noida.

The firm specialises in a diverse range of products and solutions, including printed circuit board (PCB) assembly, Box Build, LED lighting, memory, IT accessories, and computer hardware.

The company intends to allocate the funds raised from the fresh issue towards several key initiatives.

These include financing capital expenditure for the installation of additional plant and machinery at a new manufacturing facility in Bhiwadi, Rajasthan, as well as investing in its subsidiary, Sahasra Semiconductors Private Limited, for further capital expenditure on plant and machinery. Additionally, the proceeds will be used to meet working capital requirements and for general corporate purposes.

(KNN Bureau)