Enser Communications shares list at nearly 3% premium on NSE SME platform

Digital marketing company Enser Communications Ltd made its stock market debut at a decent premium of nearly 3% on Friday, March 22. The SME company listed its shares on the National Stock Exchange’s SME platform, Emerge.

The stock listed at ₹72 per share against the issue price of ₹70 per share, reflecting gains of 2.85% over the issue price.

After listing, Enser Communications shares hit a high of ₹74 per share, up by 5.71% from the issue price, before giving up some gains due to selling pressure.

The stock traded flat at ₹70 per share on the NSE SME platform at 10.10 am compared to the issue price while down 2.78% from the listing price.

Exchange data showed that around 6.8 lakh shares changed hands in the early session. The traded value was ₹4.88 crore while the market capitalisation of the company was ₹61 crore.

Enser Communications IPO details

Digital marketing company Enser Communications Ltd launched its maiden public offer on March 15. The ₹16.17-crore public issue comprised a fresh issue of 23.1 lakh shares. The Enser Communications IPO price was fixed at ₹70 per share. The minimum lot size was 2,000 shares and the minimum investment amount for retail investors was ₹1,40,000.

Enser Communications Ltd IPO received a good response from investors as the issue was subscribed more than 7 times at the close of bidding on March 19.

According to exchange data, applications for 1,60,62,000 equity shares were received against 21,92,000 shares on offer.

Retail investors’ portion was subscribed 11 times while the non-institutional investors’ category subscribed 3.72 times. There was no anchor investor portion in the initial public offering.

Enser Communications has proposed to utilise IPO proceeds for setting up a new unit, finance working capital requirements and meet other general corporate purposes. The company has proposed to utilise proceeds to finance setting up of a new unit at a cost of ₹7.25 crore in Gurgaon, Haryana.

About Enser Communications

Founded in 2008, Enser Communications Ltd is a digital marketing company. Enser provides complete end-to-end solutions for SMEs and start-ups.

Enser has expertise in business process management (BPM). It offers services in the insurance, e-commerce, education and travel verticals. Its four main business verticals are customer acquisition services, customer services, IT infrastructure management services and data management services.

Enser provides a range of services such as business analytics, interactive voice response systems (IVRS), customer interaction management solutions, customer relationship management (CRM), and technology-enabled infrastructure development, among others.

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