New Delhi, 28 February (HS): HP Telecom shares were listed with a premium in the domestic stock market today. Under the IPO, the company's shares were issued at a price of Rs 108. Today, it was listed on the SME platform of NSE at a premium of 6.53 percent at Rs 115.05. However, the happiness of IPO investors faded after a while, as the price of this stock fell due to selling pressure. After trading till 11:30 am, this stock was trading at the level of Rs 111.10. Despite this decline, the company's IPO investors are currently in profit of 2.87 percent.

HP Telecom's Rs 34.23 crore IPO was open for subscription between 20 and 24 February. This IPO received an average response from investors, due to which it was subscribed 1.91 times overall. Under the IPO, 50 percent of it was reserved for retail investors. The reserve portion for retail investors was subscribed 1.85 times. 31,69,200 new shares with a face value of Rs 10 have been issued under this IPO. The company will use the money raised through the IPO to meet working capital requirements and for general corporate purposes. Talking about the financial position of the company, as per the claim made in the prospectus, its financial health has continuously strengthened.

In the financial year 2021-22, the company had a net profit of Rs 2.13 crore, which increased to Rs 6.35 crore in the next financial year 2022-23 and reached Rs 8.60 crore in 2023-24. During this period, the company's revenue grew at a compounded rate of more than 92 percent annually to reach Rs 1,079.77 crore. The company has earned a net profit of Rs 5.24 crore during the first half of the current financial year i.e. between April and September 2024. Similarly, the company has achieved a revenue of Rs 594.19 crore during this period.

Hindusthan Samachar / Jun Sarkar