IPO Watch 23 February 2024 📈💰
Investors who put their money in Thai Casting Limited’s IPO have become rich on the first day. The company’s shares are listed at a premium of 141.43% compared to the IPO price. The IPO price of Thai Casting was Rs 77. On NSE, the company’s share was listed at Rs 185.90 today. Investors in the IPO have earned a hefty profit of 141.43% on the first day. The IPO was listed on the NSE’s SME platform.
Thai Casting’s IPO was open for bidding from 15-20 February. The IPO received a tremendous response from investors. The IPO was oversubscribed 375 times. Retail investors’ quota was 355.66 times, while non-institutional buyers’ quota was 729.72 times. Eligible institutional investors received shares reserved for them at an oversubscription rate of 144.43 times.
The size of the company’s IPO was Rs 47.20 crore. The price was fixed at Rs 73-77 per share. The new shares in the IPO are being sold. This means that the entire amount received from the IPO will go to the company’s account.
Thai Casting Limited is an auto ancillary company. The company is engaged in precision machining, induction heating and annealing of ferrous and non-ferrous materials, and high-pressure die casting. The business model is mainly B2B based. The company provides services to major companies in the auto component sector.
The company’s product portfolio includes a wide range of auto components. This includes engine mounting support brackets, transmission mounts, fork shafts and housings, armatures, steering wheels, electrical connectors, and YFG base frames (right-hand drive / left-hand drive).
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.
