Fractal Industries share price: Stock lists at 6% premium on BSE SME; here's how much individual investors made

Fractal Industries share price: Shares of Fractal Industries made a decent debut on the SME Platform of BSE (formerly Bombay Stock Exchange) on Tuesday, February 24.

The stock started trading at ₹229 apiece, reflecting a premium of 6.02% over the IPO issue price of ₹216 per share on the BSE SME.

Fractal Industries share price: Here's how much investors made

The minimum investment for an individual investor was 1,200 shares. This category of investors who secured the Fractal Industries IPO allotment made ₹2,74,800.

The initial share sale sought to raise ₹49 crore via fresh issuance of 0.22 crore equity shares, with no offer for sale (OFS) component. The money generated will be used for funding working capital requirements and corporate general purposes.

"Our company expects to receive the benefits of listing its equity shares on the stock exchanges, including enhancing its visibility and brand image, and creating a public market for our equity shares," the firm said in its red herring prospectus.

The initial public offer was booked 5.13 times, with bids for 83,28,000 equity shares compared to 16,23,600 shares on offer, as per the BSE data.

Before the IPO, the company had raised ₹13.93 crore from anchor investors, including Minerva Ventures Fund, Zeal Global Opportunities Fund, Visionary Value Fund, LRSD Securities Pvt Ltd, Rajasthan Global Securities Private Limited and Arnesta Global Opportunities Fund PCC – Arnesta Global Fund 1.

Fractal Industries is a garment maker and supply chain company. It is involved in sourcing, designing, and manufacturing garments. It also offers end-to-end warehousing and logistics solutions to e-commerce platforms such as Myntra, Ajio and Flipkart.