Sai Urja IPO – Shares of Sai Urja Indo Ventures were listed at ₹133.80 on the BSE SME platform, compared with the IPO’s upper price band of ₹113 per share. The debut translated into a gain of ₹20.80, or around 18.41%, for investors who received shares at the upper end of the issue price. The stock, however, saw some selling after the opening and slipped toward ₹130 during the early trading session.
Stock Opens at ₹133.80
The company had fixed the IPO price band between ₹107 and ₹113 per share. Based on the upper band, the listing at ₹133.80 gave investors an immediate premium of about 18.4%.
After touching ₹133.80 at the start of trading, the stock moved lower during the session and reached an intraday low of ₹127.15. Around 10:06 am, it was trading near ₹130, which was still ₹17, or roughly 15.04%, above the ₹113 issue price.
The movement indicated that investors were willing to trade the newly listed stock at a premium, although some early participants also appeared to book profits after the initial jump.
IPO Attracted Strong Investor Interest
Sai Urja Indo Ventures had opened its public issue on September 25, with the subscription window closing on September 29. The issue received overall subscription of 4.38 times, while the allotment was finalised on September 30.
The IPO was structured as a book-built issue worth ₹24.95 crore. Of this amount, the company raised ₹20.67 crore through a fresh issue of shares, while shares worth ₹4.28 crore were offered through the Offer for Sale component.
The subscription response provided a positive backdrop ahead of the company’s market debut, with investors getting their first opportunity to trade the shares on the SME platform after allotment.
Retail Investors Needed ₹2.71 Lakh
The issue had a lot size of 1,200 shares. Retail applicants were required to apply for at least two lots, meaning they needed to bid for 2,400 shares.
At the upper price band of ₹113, the minimum retail application amount came to ₹2.71 lakh. For the HNI category, the minimum requirement was three lots, or 3,600 shares, involving an investment of about ₹4.07 lakh at the upper band.
A retail investor who received the minimum two-lot allotment and sold the entire holding at the ₹133.80 listing price would have seen a gross listing gain of approximately ₹49,920, before applicable charges and taxes.
Trading Activity Picks Up After Listing
Trading in the newly listed shares was active during the initial session. The stock recorded traded quantity of around 8.58 lakh shares, while turnover stood at approximately ₹11.44 crore based on the figures available during the session.
The company’s market capitalisation was around ₹100.07 crore. The session’s reported high was ₹133.80, while ₹127.15 marked the intraday low.
Sai Urja Indo Ventures operates in the civil construction segment. Shannon Advisors Pvt. Ltd. acted as the book-running lead manager for the IPO, while Maashitla Securities Pvt. Ltd. served as the registrar.