New Delhi, July 3(HS): Ace Alpha Tech's shares made a notable debut in the stock market, delighting IPO investors. Issued at 69 rupees, the shares opened at 81 rupees, reflecting a 17.39% premium. After initial selling pressure drove prices down to 77.10 rupees, a resurgence in buying pushed the shares to an upper circuit level of 85.05 rupees, granting investors a first-day profit of 23.26%.

The IPO, amounting to 32.22 crore rupees, was available from June 26 to June 30 and saw overwhelming interest with an overall subscription of 101.75 times; the QIB portion was subscribed 67.06 times, the NII portion 170.79 times, and the retail segment 91.92 times.Under this IPO, new shares worth 24.48 crore rupees were issued, along with 1.12 million shares sold through the offer for sale. Proceeds will fund capital expenditures and corporate purposes.

Financially, the company has shown significant growth, with net profits rising from 13 lakh rupees in 2021-22 to 10.65 crore rupees in 2023-24, while revenues surged from 36 lakh rupees to 15.35 crore rupees during the same period. For the short first quarter of 2024-25, the company reported 8.47 crore rupees in net profit and revenue of 12.71 crore rupees.

Hindusthan Samachar / Jun Sarkar