Acme India Industries shares list at 13% premium on BSE SME; here's how much investors made per lot

Shares of Acme India Industries debuted at ₹221 apiece on the SME platform of the BSE (formerly Bombay Stock Exchange) on Friday, October 9.

This reflects a premium of 12.76% over the IPO issue price of ₹196 per share.

Acme India Industries share price: Here's how much investors made per lot

The initial public offering was subscribed 115.51 times, as it secured bids for 51,32,26,200 shares compared to 44,43,000 shares on offer, according to the BSE data.

The category for non-institutional investors' (NIIs) was subscribed 145.11 times, while the individual investors' portion was booked 85.50 times. The qualified institutional buyers (QIBs) quota was subscribed 137.93 times.

The ₹121.69 crore initial public offering was a combination of a fresh issuance of 54.07 lakh shares totalling ₹105.98 crore and an offer for sale (OFS) component of ₹15.71 crore by promoter Suraj Pandey.

The money raised will be used to fund working capital needs, capital expenditure towards purchase of additional machinery and plant, debt clearance and general corporate purposes.

"We believe that listing will enhance our corporate image and visibility of brand name of our company. We also believe that our company will receive the benefits from listing of equity shares on the SME platform of BSE. It will also provide liquidity to the existing shareholders and will also create a public trading market for the equity shares of our company," the firm said in its red herring prospectus.

ACME India Industries is engaged in designing, manufacturing and warranty maintenance of railway coach interiors. It offers turnkey furnishing solutions for new railway coaches, refurbishment, upgradation and conversion of old coaches, and upgradation of toilet facilities. It also makes and supplies railway coach components.