Effwa Infra and Research shares list with 90% premium at ₹155.80 apiece on NSE SME

Effwa Infra and Research shares made a notable debut on the stock market, listing at a 90% premium to their issue price. The shares began trading at ₹155.80 each on the NSE SME, compared to the IPO price of ₹82 per share.

The listing matched market expectations, with the grey market premium today at ₹143 per share, or 174.39% above the issue price. However, due to NSE's 90% price control cap on SME IPOs during the pre-opening session, the listing price was limited to a 90% premium.

The Effwa Infra and Research IPO opened on July 5 and closed on July 9, with allotments finalized on July 10, and the shares listing today, July 12. The IPO price band was set at ₹78 to ₹82 per share, raising ₹51.27 crore at the upper end.

The offering included a fresh issue of 53.17 lakh shares worth ₹43.60 crore and an offer-for-sale (OFS) of 9.36 lakh shares worth ₹7.68 crore. Shreni Shares Limited managed the IPO, with Bigshare Services Pvt Ltd as the registrar.

The IPO saw strong demand from all investor segments, being subscribed 313.65 times overall, with bids for 131.07 crore shares against 41.79 lakh shares on offer. It was subscribed 323.81 times in the retail category, 166.56 times by Qualified Institutional Buyers (QIBs), and 477.27 times by Non-Institutional Investors (NIIs).

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