The offer received bids for 3.58 crore shares as against 46.06 lakh shares on offer.
The initial public offer (IPO) of Pune EStock Broking received bids for 3,58,64,000 shares as against 46,06,400 shares on offer, as per BSE data as of 17:00 hours on Thursday (07 March 2024). The issue was subscribed 7.78 times.The issue opened for bidding on Thursday (07 March 2024) and it will close on Tuesday (12 March 2023). The price band of the IPO is fixed at Rs 78 to 83 per share. The minimum order quantity is 1600 shares. The equity shares are proposed to be listed on the SME Platform of Bombay stock exchange.
The IPO comprises fresh issue of 46,06,400 shares. The promoter and promoters shareholding will dilute to 51.34% from 72.75% Pre-IPO.
About 6,91,200 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 39,15,200 equity shares. The public issue and the net issue will constitute 29.43% and 25.016% respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds of issue to meet funding the working capital requirements, public issue expenses and general corporate purposes.
Ahead of the IPO, Pune E Stock Broking on Wednesday, 06 March 2023, raised Rs 9.73 crore from anchor investors. The board allotted 11.72 lakh shares at Rs 83 per share to 4 anchor investors.
Pune E-Stock Broking Company primarily offers a platform to its clients for the execution of trades (equity, futures & options, currency, and commodity) with the Stock Exchange (NSE, BSE, MCX) through CTCL (Computer to Computer Link) terminals, web interfaces, & mobile app (Android & iOS). The companys client base includes authorized persons (spread across more than 10 cities) as well as direct clients. The total count of clients was 60,640 as of March 2023. The company has 2 branch offices in Ahemdabad & Delhi. As of 30 September 2023, company has 79 employees.
The company recorded consolidated revenue from operations of Rs 26.67 crore and net profit of Rs 6.10 crore for the period as on 30 September 2023.
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