Finelistings Technologies Ltd IPO booked two times on first day driven by retail demand, check key details
Upstox
4 min read • Updated: May 7, 2024, 6:08 PM
Summary
Finelistings Technologies Limited IPO is a fixed-price issue of ₹13.53 crore, and consists entirely of a fresh issue of 11 lakh shares. Finelistings Technologies Ltd IPO price has been fixed at ₹123 per share.
Finelistings Technologies Limited IPO has been booked twice of the net offer size on the first day of subscription on Tuesday, May 7.
The initial public offering (IPO) of Finelistings Technologies Limited was fully subscribed within hours of launch.
The public issue received bids for 20.26 lakh shares against 10.42 lakh shares on offer for public investors, until the closing of bidding on the first day at 5 pm, the BSE data showed. The BSE SME IPO was overall booked 1.94 times.
The company has set aside 5.21 lakh shares each for retail individual investors and other categories, which also include the non-institutional investors (NIIs) and Qualified Institutional Buyers (QIBs).
The public issue received bids for 3.11 lakh shares in the NIIs category showing a subscription of nearly 60% for the segment. The retail portion was booked 3.29 times with biddings for 17.15 lakh shares.
The fixed-price issue worth ₹13.53 crore is open for subscription from May 7 to May 9.
Finelistings Technologies Limited IPO consists entirely of a fresh issue of 11 lakh shares, including a market maker portion of 58,000 shares.
Finelistings Technologies Limited IPO price, lot size and minimum investment
Finelistings Technologies Limited IPO price has been fixed at ₹123 per share of a face value of ₹10 each.
The retail investors participating in the Finelistings Technologies Limited IPO can bid for lot size of 1,000 shares and in multiples thereof. Retail investors can bid for a minimum of one lot, aggregating to an investment of ₹1,23,000.
High Net-Worth Individuals (HNIs) can bid for a minimum of two lots, or 2,000 shares, amounting to an investment of ₹2,46,000.
In terms of category-wise reservation for the Finelistings Technologies Limited IPO, 50% of the net offer is allocated for retail investors, while the remaining 50% has been earmarked for other investor categories.
Aneesh Mathur and Arjun Singh Rajput are the promoters of Finelistings Technologies Limited. Prior to the IPO, their combined shareholding stood at 71.65%.
Fedex Securities Pvt Ltd is the book running lead manager, while Skyline Financial Services Private Ltd acting as the registrar for the Finelistings Technologies Limited IPO.
To know more and apply for Finelistings Technologies IPO, click here
Finelistings Technologies Limited IPO dates
Finelistings Technologies Limited IPO share allotment status is expected to be finalised on Friday, May 10. This will be followed by the initiation of refunds to non-allottees on May 13. The transfer of shares to the demat accounts of successful applicants will also be made on the same day.
Finelistings Technologies Limited IPO shares are tentatively scheduled to get listed on the BSE SME platform on Tuesday, May 14.
Finelistings Technologies Limited IPO objective
Finelistings Technologies Limited aims to allocate the net proceeds from the IPO for specific purposes. These include investing in software acquisition, catering to essential working capital needs, and addressing various general corporate purposes.
About Finelistings Technologies Limited
Finelistings Technologies Limited was incorporated in 2018. The company operates across diverse sectors, primarily focusing on retailing used luxury cars and providing software development services.
In the retail used luxury cars segment, the company sells pre-owned premium and high-end luxury vehicles including sedans, SUVs, sports cars and convertibles. It also offers after-sales services and repairs facilitated through affiliated service centres. Additionally, the company assists customers in securing financial support from third-party financiers. Its venture into the automotive sector began in August 2022 with the inauguration of its first showroom, operating under the brand ‘Finecars,’ at Ambience Mall in Vasant Kunj, Delhi.
In software development services, Finelistings Technologies Limited extends cloud-based services and IT consulting, specialising in areas such as big data analytics, cloud architecture, data engineering and IoT solutions. It also provides a wide array of solutions including business intelligence analytics, cloud and data management, digital transformation and web development.