Shri Balaji Valve Components IPO Receives Strong Market Entry with 90% Premium

Shri Balaji Valve Components IPO: A Powerful Entry in the Market

🚀📈 The shares of Shri Balaji Valve Components have made a strong entry in the market in the new year, providing investors with impressive returns on the first day of listing.

💰📊 The shares of Shri Balaji Valve Components were listed on the BSE at a premium of 90%, at a price of ₹190. The shares touched a high of ₹199.50 on the day of listing. This means that investors who were allotted shares in the IPO received a 100% profit on the first day itself.

💡 Shri Balaji Valve Components had set the price band for its IPO at ₹100 per share. The IPO received a positive response from investors.

📅 The IPO opened for investment on December 27 and closed on December 29, 2023. The allocation date for the shares of Shri Balaji Valve Components was set for Monday, January 1, 2024. These shares are listed on the BSE SME platform.

👍 The IPO received an overwhelming response from investors, with a subscription of over 276 times. The retail category received a subscription of 169.95 times, the qualified institutional buyers category received a subscription of 70.04 times, and the non-institutional investors category received a subscription of 799.70 times.

💰 The IPO of Shri Balaji Valve Components is worth ₹21.60 crores and comprises 21.60 lakh equity shares. The IPO did not include an offer for sale. The price range for the IPO was set between ₹95 to ₹100 per share. The registrar for the Shri Balaji Valve Components IPO is Bigshare Services Private Limited.

💼 The company plans to utilize the funds raised through the IPO for general corporate purposes, working capital requirements, and the construction of additional plants and machinery.

With an impressive listing and strong investor response, Shri Balaji Valve Components has made a promising start in the market. Investors can expect exciting growth and potential in the future. 💪💼📈

Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.