Sat Kartar Shopping opened well on Friday, January 17, at NSE SME at ₹153.90 a share, thus a 90% premium to its issue price of ₹81.
The SME IPO of Sat Kartar Shopping was worth ₹33.80 crore and was launched between 10 January and 14 January. The price band of the IPO was ₹77 to ₹81 per equity share.
Subsequent to the above bidding offer, Sat Kartar Shopping IPO received amazing demand for three days of bidding closure and closed with 332.78 times bids. The IPO was oversubscribed 3350.45 times, which is against the IPO size of 27.77 lakh equity shares.
The retail investor segment was almost bombed out 250.35 times, and that of the non-institutional investors category (NII) was subscribed 808.3 times. In the Qualified Institutional Buyers quota, it was bid 124.75 times in the bidding of the 3 days.
IPO Overview
Sat Kartar Shopping SME IPO was a completely pure issue with 41,73,750 new shares and no offer for sale. It means that the retail investor could apply with a minimum lot size of 1,600 shares, which costs at least ₹ 1.29 lakh.
Sat Kartar Shopping mobilized ₹9.55 crore from anchor investors on January 9, 2024, before coming out with the IPO.
The goals of the issue largely include financing expenditures such as acquiring unidentified business ventures both locally within India and across the global market, as well as financing the marketing and advertising costs.
Further, the proceeds will be used to finance acquisitions, fund capital expenditure, invest in technology as well as other miscellaneous corporate purposes. A part of the funds will also be expended jointly to enable the covering of expenses related to the issue.
The book running lead manager of Sat Kartar Shopping IPO is Narnolia Financial Services Ltd, and the registrar is Skyline Financial Services Private Ltd. The market maker of Sat Kartar Shopping IPO is Prabhat Financial Services Ltd.
Market Sentiment
The positive market reaction to Sat Kartar Shopping’s debut reflects broader investor sentiment toward companies that offer sustainable and health-oriented products. The surge in share price indicates strong confidence among investors about the company’s future prospects and its ability to navigate challenges in a competitive market landscape.
Analysts suggest that the company’s commitment to quality Ayurvedic products and its innovative marketing strategies will play a crucial role in sustaining growth momentum post-IPO.