IPO Listings: Adcounty Media, Neetu Joshi shares make strong debut on BSE SME; here's how much investors earned per lot

IPO listings: The initial public offerings of Neetu Yoshi Ltd and Adcounty Media India Ltd made their bumper stock market debuts on the BSE SME platform on Friday, July 4.

Here's a look at how these issues are performing on their debut and how much investors made per lot.

Adcounty Media India share price

A lot consisted of 1,600 shares worth ₹1,28,000. Investors who received the Adcounty Media India IPO allotment made ₹2,08,000 per lot.

The ₹50.69 crore Adcounty Media India IPO was completely a fresh issuance of 59.63 lakh shares. It had a price band of ₹80 to ₹85 per share.

The funds raised will be utilised to meet capital expenditure requirements, working capital needs, unidentified acquisition and general corporate purposes.

The sole book-running lead manager for the IPO was Narnolia Financial Services Ltd, while the registrar was Skyline Financial Services.

Adcounty Media India is a brand technology company providing end-to-end solutions from branding to performance optimisation.

Neetu Joshi share price

A lot had cost ₹1,13,600. Investors who received the Neetu Joshi IPO made ₹1,68,000 per lot.

The ₹77.04 crore initial share sale, with a price band of ₹71 to ₹75 per share, was solely a fresh issuance of 102.7 lakh shares. The capital raised will be used for setting up a new manufacturing plant 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 BSE SME," the company said in its RHP.

Neetu Joshi manufactures customised products in various grades of ferrous metallurgical products.