Money Fair IPO Debuts with a 27.27% Premium

Money Fair IPO - Lists at a Premium of 27.27%

Money Fair IPO had a robust listing on July 2, 2024, debuting at ₹98.00 per share, which marks a significant premium of 27.27% over the issue price of ₹77 per share in its SME IPO on the NSE. Below is the pre-open price discovery summary for Money Fair IPO on the NSE.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: NSE

The SME IPO of Akiko Global Services (The Money Fair) was a book built IPO in the price band of ₹73 to ₹77 per share. Considering the strong subscription response at over 34X and the anchor allocation being done at the upper end of the band, the price discovery of the IPO also happened at the upper end of the price band at ₹77 per share. On 02nd July 2024, the stock of Akiko Global Services (The Money Fair) listed at ₹98.00 per share, a premium of 27.27% over the IPO issue price of ₹77.00 per share. For the day, being in the 5% circuit filter category, the upper circuit price has been set at ₹102.90 and the lower circuit price has been set at ₹93.10. 

As of 10.05 am, the volumes were 8.56 lakh shares while the turnover (value) was at ₹827 lakhs. The opening market cap of the stock stands at ₹100.37 crore. The equity shares of Akiko Global Services (The Money Fair) (Symbol: AKIKO) shall be in Series ST (Trade for Trade Surveillance Segment (TFTS) – Settlement Type W) and subsequently be shifted to Series SM (Normal Rolling Segment – Settlement Type N). At 10.05 am, the stock is trading at ₹93.50.00, which is -5.00 below the listing price of ₹98.00 per share and the stock is trading locked at the lower circuit in the morning. The stock of Akiko Global Services (The Money Fair) has a face value of ₹10 per share and the market lot comprises of 1,600 shares. The stock trades under the NSE symbol (AKIKO) and the ISIN code for demat credits will be (INE0PMR01017).
 

Read more about Money Fair IPO