Suntech Infra, Rama Telecom Make Strong Debut On NSE SME; Supertech EV Shares List At 20% Discount

Suntech Infra and Rama Telecom made a strong market debut on Wednesday, July 2, with their shares listing at a premium over the issue price on the NSE SME platform. However, Supertech EV made a weak debut with its shares opening at a discount of 20% over the IPO price on the BSE SME platform.

Suntech Infra shares were listed at a premium of nearly 27%, while Rama Telecom shares made their debut at a premium of nearly 6% on the NSE SME platform.   

Suntech Infra Ltd. shares were listed at Rs 109.1 apiece on the NSE, at a premium of 26.86% over the IPO price of Rs 86 per share. The stock further allied to hit an intraday high of Rs 110 apiece.

Soon after listing, as many as 11.78 lakh shares changed hands, with the trading value reaching Rs 12.74 crore. The company’s market valuation stood at Rs 200.69 crore.

Suspertech EV shares opened at Rs 73.6 apiece on the BSE SME platform, 20% lower than the issue price of Rs 92 per share.

Within minutes of listing, as many as 19,000 shares changed hands on the bourse with the turnover reaching Rs 13.95 lakh. The company’s market capitalisation stood at Rs 86.41 crore.

On the other hand, Rama Telecom made a strong debut with its shares listing at a premium of 5.88%. The stock opened at Rs 72 apiece against the issue price of Rs 68. After listing, the stock further advanced to hit an intraday high of Rs 75 apiece.

As many as 6.86 lakh shares of the company changed hands, while the total trading value stood at Rs 4.93 crore. The company’s market capitalisation stood at Rs 90.28 crore.

The subscription window for the initial public offerings (IPOs) of Suntech Infra Solutions, Rama Telecom and Supertech EV was open from June 25 to June 27. The share allotment for the three IPOs was finalised on June 30. 

The Suntech Infra Solutions IPO was a book-building issue worth Rs 44.39 crore. The NSE SME issue comprised a fresh issuance of 39.74 lakh shares, worth Rs 34.18 crore, and an offer-for-sale of 11.87 lakh shares, amounting to Rs 10.21 crore.

The price band for the IPO was set between Rs 81 and Rs 86 per share. The IPO lot size consisted of 1,600 shares. 

Suntech Infra Solutions IPO was overall subscribed 223.64 times.

Suntech Infra Solutions is a B2B construction company. It was incorporated in 2009. It has served clients in the oil, gas and steel sectors. 

The company has proposed to use proceeds from the IPO to purchase construction equipment, fund working capital requirements and for general corporate purposes. 

Supertech EV IPO was a book-building issue aimed at raising Rs 29.9 crore from the primary market. The SME issue comprised a fresh issuance of 32.5 lakh shares.

The price band for the IPO was set between Rs 87 and Rs 92 per share. A single lot size comprised 1,200 shares. The IPO was overall booked 4.4 times.

Supertech EV is a manufacturer of electric vehicles. Its portfolio includes two-wheelers and e-rickshaws.  

The company plans to use proceeds from the IPO to meet working capital requirements, clear debt and for general corporate purposes. 

The Rama Telecom IPO was a book-building issue worth Rs 25.13 crore. The IPO was entirely a fresh issue of 36.96 lakh shares, without any OFS portion.

The price band for the Rama Telecom IPO was fixed in the range of Rs 65 to Rs 68 per share. A single lot size comprised 2,000 shares.

During the three-day bidding period from June 25 to June 27, the Rama Telecom IPO was subscribed 1.61 times. 

Rama Telecom provides networking and telecom solutions to clients such as Indian Railways and Airtel. It was established in July 2004. 

The company has proposed to use proceeds from the IPO to meet working capital requirements, fund capital expenditure and for general corporate purposes. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.