Shares of OBSC Perfection were trading at Rs 115.50 on the NSE, a premium of 15.50% compared with the issue price of Rs 100.
The scrip was listed at Rs 110, a premium of 10% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% compared to its listing price.The counter hit a high of Rs 115.50 and a low of Rs 110. About 23.10 lakh shares of the company changed hands at the counter.
OBSC Perfection's IPO was subscribed 15.45 times. The issue opened for bidding on 22 October 2024 and it closed on 24 October 2024. The price band of the IPO was set at Rs 95 to Rs 100 per share.
The IPO comprised fresh issue of 66,02,400 shares. The company intends to utilize the net proceeds for purchasing new machinery for its existing manufacturing facility at Tamil Nadu and Pune, funding working capital requirement of company and general corporate purpose.
Ahead of the IPO, OBSC Perfection on 21 October 2024, raised Rs 18.79 crore from anchor investors. The board allotted 18.79 lakh shares at Rs 100 each to 10 anchor investors.
OBSC Perfection manufactures wide range of precision engineering products which are high-quality engineered parts across end-user industries and geographies the manufactures wide range of precision metal components including but not limited to cut blanks, shafts / spline shafts, torsion rods, piston rods, rack bar semi-finished, pinion, drive shafts, gear shifters, cable end fittings, sensor boss, sleeves, push plate, hubs, housing brass and aluminium, fork bolt, fasteners, connectors, ball pin, ball pin housing, flange, male female ring, dozing adapter, housing for a diversified base of customers. As of 30 September 2024, the company had 735 employees.
The company recorded revenue from operations of Rs 56.52 crore and net profit of Rs 6.03 crore for the period as on 31 August 2024.
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