New Delhi, May 28 (HS): Dar Credit and Capital, specializing in personal and MSME loans, made a notable debut on the stock market today. The shares, initially priced at ₹60 during the IPO, opened at ₹65.15 on the NSE SME platform, reflecting an 8.58 percent premium. However, the excitement faded as the stock hit a lower circuit at ₹61.90 due to selling pressure shortly after the listing. Despite this, IPO investors still saw a profit of 3.17 percent. The company raised ₹25.66 crore from its IPO, which was available for subscription from May 21 to 23, and achieved an impressive overall subscription rate of 106.09 times.

The portions reserved for Qualified Institutional Buyers, Non-Institutional Investors, and retail investors were subscribed 31.29, 208.45, and 104.88 times, respectively. A total of 42.76 lakh new shares with a face value of ₹10 were issued. Funds raised will enhance the company’s capital base and support corporate purposes. Financially, the company reported a net profit of ₹3.97 crore for FY 2023-24, up 35.49 percent, with revenue increasing by 29.10 percent to ₹33.01 crore. In the first half of the previous fiscal year, the net profit was ₹20.56 crore and revenue reached ₹455.67 crore.

Hindusthan Samachar / Jun Sarkar