QVC Exports Limited IPO: QVC Exports Limited IPO has got a great listing today on Wednesday. The shares of the company have been traded in the NSE with a price of Rs.161 which is a 87% premium against the price range of Rs 85.
This means that those who would have gotten this IPO would have made huge profits on the very first day. However, after listing, this stock got a lower circuit of 5% and this stock came down to Rs 152.95.
In the initial trading on NSE, no buyer was seen in this stock while there was a competition of sellers. Let us tell you that in the morning, the number of shares sold was 8,83,200. Its market cap on NSE was Rs 159.85 crore.
The IPO Got A Tremendous Response
QVC Exports Limited’s IPO was open for investment on 21 August. Investors could invest in this issue till 23 August. The IPO price was set at Rs.86 for each share.
The Rs 24.07 crore SME IPO was subscribed 535 times on the last day of bidding on August 23, receiving bids for 1,42,18,12,800 shares as against 26,57,600 shares on offer.
According to the data, the retail quota was subscribed 418.64 times, while the non-institutional investor category was also subscribed 596.57 times.
Book Running Lead Manager
Khandwala Securities Limited is the head manager for the book-running of QVC Exports IPO. QVC Exports IPO, while Cameo Corporate Services Limited is the registrar of the QVC Exports IPO.
For the market makers for QVC Exports IPO is Aftertrade Broking. The company will use the proceeds raised from the IPO for repayment of unsecured loans and working capital requirements.
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