Prizor Viztech stock lists at 90% premium in debut trade

Shares of small and medium enterprise (SME) Prizor Viztech Ltd made a spectacular trading debut on Monday, July 22, with the stock listing at a 90% premium on the NSE Emerge platform.

Prizor Viztech stock opened the session at ₹165.3 apiece, up 90% compared to its initial public offering (IPO) price of ₹87 per share. Within minutes of trade, the stock hit the 5% upper circuit to settle at ₹173.55 levels.

Since the minimum bidding quantity in the Prizor Viztech IPO was 1,600 shares, Monday’s listing meant that successful bidders who were allotted shares in the issue were sitting on a profit of at least ₹1.25 lakh (₹78.3 x 1,600) as soon as the stock started trading on exchanges.

The initial share sale had received strong investor demand when it was open for subscription from July 12 to July 16. The issue was oversubscribed by around 220 times during the three-day bidding period.

The non-institutional investors’ (NIIs) category saw the highest demand, with an oversubscription of 280 times. The retail investors’ quota was overbid by 264 times, while the portion reserved for qualified institutional buyers (QIBs) saw an oversubscription of 94.5 times.

The Prizor Viztech IPO was a 100% book-built issue aimed at raising a total of ₹25.15 crore. The issue comprised a fresh issuance of 28.91 lakh shares, with no offer-for-sale (OFS) component.

The company had fixed a price band of ₹82 to ₹87 per share for its IPO. The lot size, or the minimum bid quantity, was fixed at 1,600 shares.

Ahead of the launch of the IPO, Prizor Viztech had also raised ₹7.09 crore from anchor investors on July 11. The company had finalised issuing 8.14 lakh shares to a total of four anchor investors at an allocation price of ₹87 per shares. The list of anchor investors included Nova Global Opportunities Fund PCC – Touchstone, Next Orbit Ventures Fund, Vikasa India EIF Fund and Craft Emerging Market Fund PCC.

Prizor Viztech had earlier said that it proposed to utilize the net proceeds from the issue for funding of capital expenditure requirements towards setting up of a display centre and inventory storage in Ahmedabad (Gujarat). A part of the proceeds will also go towards funding the company’s working capital requirements and general corporate purposes.

About Prizor Viztech

Prizor Viztech Ltd, which was incorporated in 2017, provides security and surveillance solutions with a wide range of CCTV cameras for retail, government, education and infrastructure. In 2022, the company expanded its product line to include televisions, touch panels, and monitors, all sold under its brand name and manufactured by third parties.

Additionally, the company offers video management software that provides surveillance features to customers on a single monitor and location.