Curated By: Business Desk
Last Updated: November 16, 2023, 16:35 IST
The IT options supplier raised Rs 54.49 crore through the IPO.
Ahead of the itemizing, Rox Hi-Tech Limited’s share worth was listed at a 90% premium to the difficulty worth within the gray market.
In a very good growth for buyers, Rox Hi-Tech Limited’s share worth made a debut on NSE SME at this time and it was a stellar one. Rox Hi-Tech Limited’s share worth, on NSE SME, was listed at Rs 135, thereby witnessing a hike of 62.65 per cent compared with the difficulty worth of Rs 83.
The worth band of Rox Hi-Tech Limited, which began on November 7 and ended on November 9, was set within the vary of Rs 80 to Rs 83. In addition to that, the buyers can bid for round 1,600 shares.
Ahead of the itemizing, its share worth was listed at a 90 per cent premium to the difficulty worth within the gray market. The gray market is an unofficial platform the place shares begin buying and selling even earlier than the allotment, till the itemizing day. Most buyers observe the gray market premium (GMP) to remain up to date concerning the itemizing worth
The difficulty was properly acquired by buyers and was subscribed by them over 214 occasions. On the opposite hand, non-institutional patrons have been extra energetic and purchased 366 occasions. Meanwhile, retail buyers picked 204 occasions whereas certified institutional patrons booked 106 occasions their allotted quota.
The IT options supplier raised Rs 54.49 crore through the IPO. It consisted of a contemporary difficulty of 60.17 lakh shares of Rs 49.95 crore and a proposal-for-sale of 5.47 lakh shares of round Rs 4.54 crore. moreover, it additionally managed to lift Rs 13.12 crore from 4 anchor buyers. These buyers are NAV Capital VCC NAV Capital Emerging Star Fund, Zeal Global Opportunites Fund, Zinnia Global Fund PCC and Chhattisgarh Investments Limited.
These IPO proceeds shall be utilized by the corporate to fund capital expenditure for community setup and safety operations. It will arrange a medical automation centre in Chennai together with a world software program supply centre in Noida.
It is pertinent to notice that ROX Hi-Tech Limited is a supplier of IT options that primarily focuses on its clients. It offers with the administration of print providers, enterprise, and finish-person computation, session and community providers.
