Synopsis
Apex Ecotech’s shares debuted with a 90% premium over its Rs 73 issue price on Wednesday, listing at Rs 138.7. The SME IPO received a massive subscription of over 400 times. Funds from the IPO will be used for working capital and other corporate purposes. The company specializes in water and wastewater management solutions.
The shares of Apex Ecotech debuted with a premium of 90% over its issue price of Rs 73 on Wednesday. The stock listed at Rs 138.7 on the NSE SME platform.
The company’s shares were trading with a GMP of Rs 45 in the grey market, ahead of the listing.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
Source Link: Apex Ecotech shares debut at 90% premium over IPO price on NSE SME platform - The Economic Times