Esprit Stones IPO Listed at ₹93.15 on NSE SME Platform

The Listing price of Esprit Stones shares today was ₹93.15, a 7.1% increase above the ₹87 issue price. 5,795,200 new equity shares with a face value of ₹10 are being issued as part of the ₹50.42 crore Esprit Stones initial public offering. There's no part of an offer to buy.
 
The Esprit Stones IPO, a book-built issue of ₹ 50.42 crores, involved a fresh issue of 57.95 lakh shares priced between ₹82 to ₹87 per share. Bidding took place from July 26 to July 30, 2024, with share allotment finalized on July 31, 2024, & listing on NSE SME on August 2, 2024. The IPO required a minimum investment of ₹139,200 for retail investors & ₹278,400 for HNI. Managed by Choice Capital Advisors Pvt Ltd & Srujan Alpha Capital Advisors LLP, with Choice Equity Broking as the market maker, the IPO reserved 32.47% for retail investors, 13.91% for NIIs, 18.55% for QIBs, 27.83% for anchor investors, & 5.02% for market makers. The IPO raised ₹ 14.03 crore from anchor investors on July 25, 2024, with anchor shares subject to lock-in periods ending on August 30 & October 29, 2024.
 
Founded in 2016, Esprit Stones Limited manufactures engineered quartz & marble surfaces. As of March 2024, it operates Manufacturing Facility I with a capacity of 72 lakh sq. ft. per annum & Manufacturing Facility II for producing quartz grit & powder. Additionally, it produces unsaturated polyester resin at a third facility. The company holds ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, & Green Guard certifications, & as of May 31, 2024, employs 295 staff.
 
To Summarize

Esprit Stones made a positive debut on NSE SME today, opening at ₹93.15, a 7.1% premium over its issue price of ₹87. The IPO, which ran from July 26 to July 30, was priced between ₹82 & ₹87 per share, with a face value of ₹10. Investors could bid for a minimum of 1600 shares. The IPO was highly subscribed, with a subscription status of 185.82 times on the last day. The IPO raised ₹50.42 crore through a fresh issue of 5,795,200 equity shares, with no offer for sale component.