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Experiencing a 53.33% Premium on NSE SME Platform: E-Factor’s Exceptional Journey

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Experiencing a 53.33% Premium on NSE SME Platform: E-Factor’s Exceptional Journey

E-Factor Experiences Lists with 53.33% Premium on NSE SME Platform

E-Factor Experiences IPO Oversubscribed by 73.14 Times

E-Factor Experiences, an event services and technology-based installations provider, had a successful listing on the NSE SME platform on Monday. The company’s initial public offering (IPO) was oversubscribed by 73.14 times, raising ₹25.92 crore ($3.5 million). The IPO issued 34.56 lakh fresh shares without an offer-for-sale component.

Strong Opening Price of ₹75

The opening price of E-Factor’s shares was ₹75, which was 53.33% higher than the issue price of ₹115. The shares were set within a price band of ₹71-75 per share. This robust listing follows the company’s pre-IPO fundraising, where it secured ₹7.38 crore from anchor investors.

Key Players in the Process

Hem Securities managed the book-running process, with Maashitla Securities serving as the registrar and Hem Finlease functioning as the market maker. Following the IPO, the stake of promoters Jai Thakore, Samit Garg, Aruna Garg, and Manika Garg has been reduced to 73.59%.

Utilization of Proceeds

The proceeds from the IPO will be used for investing in subsidiaries, meeting working capital needs, repaying debts, and other corporate purposes. This successful listing highlights the strong investor interest in companies operating in the event services and technology-based installations sector.

This article offers an overview of E-Factor Experiences’ successful listing on the NSE SME platform. It explores the oversubscription of their IPO, the strong opening price, key players involved, and the planned utilization of the proceeds. The company’s listing exemplifies the investor interest in the event services and technology-based installations sector.