📈 Pune E Stock Share Price Soars on BSE SME Platform Entry!
The shares of Pune E Stock Broking had a stellar entry on the BSE SME platform yesterday, despite market volatility. The company’s shares successfully listed and later hit the upper circuit. The company’s IPO received an overwhelming response from investors, with over 371 times subscription.
Under the IPO, shares were issued at a price of ₹83, while trading on BSE SME started at ₹130 per share today. This means that investors have earned nearly 57% profit from the IPO. Post listing, the shares reached a high of ₹136.50, making the IPO investors now profitable by 64.46%.
Pune E Stock Broking’s ₹38.23 crore IPO was open for subscription from 7th to 12th March. The IPO received a strong response from investors, with a total subscription of 371.16 times. The institutional portion was oversubscribed by 123.02 times, non-institutional investors by 775.99 times, and retail investors by 338.92 times.
Established in 2007, Pune E Stock Broking is a corporate broking house providing services like client broking, depository services, mutual funds, corporate deposits, and currency trading. The company posted a net profit of ₹6.50 crore in FY21, which increased to ₹10.12 crore in FY22. Additionally, their profit slightly decreased to ₹9.64 crore in FY23.
During this period, the company’s revenue increased to ₹41.03 crore from a growth rate of over 8% annually. In the first half of April-September 2023, they earned a net profit of ₹6.10 crore and revenue of ₹30.11 crore.
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