Sahasra Electronics hits 5% upper circuit after making a robust debut at 90% premium on NSE SME platform

Sahasra Electronics Solutions Limited shares made a strong debut on the NSE SME platform, Emerge on Friday, October 4. The stock listed at ₹537.7 per share on the National Stock Exchange, marking an increase of 90% compared with its initial public offering (IPO) of ₹283.

Following a stellar debut, shares of Sahasra Electronics Solutions Ltd. hit a 5% upper circuit at ₹564.55 apiece.

The minimum bidding quantity for the Sahasra Electronics Solutions IPO was 400 shares. Successful bidders who were allotted shares in the primary issue would have made a profit of at least ₹1,01,880 ((₹537 - ₹283)x 400) as soon as the stock started trading on the exchange.

Sahasra Electronics Solutions IPO: Details

Sahasra Electronics Solutions IPO was worth ₹186.16 crore and consisted of a fresh issuance of 60.78 lakh shares aggregating to ₹172.01 crore and an offer-for-sale of 5 lakh shares amounting to ₹14.15 crore.

Sahasra Electronics Solutions IPO price band was fixed at ₹269 to ₹283 per share. The minimum lot size to apply for the NSE SME issue was fixed at 400 shares.

Sahasra Electronics Solutions IPO was booked more than 122.16 times during the bidding period that started on September 26 and ended on September 30. Investors across categories placed bids for over 53.44 crore shares of Sahasra Electronics Solutions against net issue size of 43.75 lakh shares.

The non-institutional investors (NII) quota was booked 260.83 times, the retail investors’ quota was oversubscribed nearly 74.89 times, and the qualified institutional buyers’ segment was booked 100.8 times.

Sahasra Electronics Solutions IPO share allotment status was finalised on October 1. Refunds were initiated for unsuccessful bidders on October 3. Shares of Sahasra Electronics Solutions were credited to the demat accounts of successful bidders on the same day.

The company plans to use the money raised via the public issue to install additional machinery at its new manufacturing facility in Bhiwadi, Rajasthan. The money will also be used to finance the installation of additional plant and machinery for its subsidiary, Sahasra Semiconductors Private Limited. Additionally, the proceeds will be used for working capital requirements and general corporate purposes.

About Sahasra Electronics Solutions

Sahasra Electronics Solutions Limited was incorporated in February 2023. The company provides Electronic System Design and Manufacturing (ESDM) services at its Noida plant. The company employed 160 people as of March 2024.