Finelistings Tech IPO Listing
Finelistings Tech IPO Listing: Finelistings Tech's ₹13.53 crore IPO was open for subscription from May 7-9. Today its shares have been listed.
Finelistings Tech IPO Listing: Shares of Finelistings Tech, which sells second hand luxury cars, had a successful entry on the SME platform of BSE today. Its IPO received overall bids of more than 37 times.
Shares have been issued under the IPO at a price of Rs 123. Today it has entered BSE SME at Rs 127, which means IPO investors got a listing gain of 3.25 percent (Finelistings Tech Listing Gain).
Purchasing of shares increased further after listing. It jumped and reached the upper circuit of Rs 133.35 (Finelistings Tech Share Price) and closed at this point, that is, at the end of the first trading day, IPO investors are in 8.41 percent profit.
Finelistings Tech IPO got strong response
Finalistings Tech's ₹13.53 crore IPO was open for subscription from May 7-9. This IPO received a good response from investors and overall it was subscribed 37.44 times.
In this, the half reserved for retail investors was filled 38.96 times. Under this IPO, 11 lakh new shares with face value of Rs 10 have been issued.
The money raised through these shares will be used for purchasing software, meeting working capital requirements and for general corporate purposes.
Formed in the year 2018, Finalistings Tech sells second-hand luxury cars and also provides softlayer development services. Under the second hand luxury car business, it sells sedans, SUVs, sports cars and convertibles.
It also provides after-sales services and repairs. It also provides loans through third party financiers. It opened its first showroom under the Fincars brand in August 2022 at Ambience Mall located in Vasant Kunj, Delhi.
Apart from this, it is in the business of software development services. Under this, it provides cloud based services such as Big Data Analytics, Cloud Architecture, Data Engineering, IoT solutions etc.
Talking about the financial health of the company, it has continuously strengthened. It had a net loss of Rs 17.26 lakh in the financial year 2021, which came down to Rs 8.33 lakh in the next financial year 2022.
After this, in the next financial year 2023, it reached a net profit of Rs 1.79 crore. During this period, the company's revenue increased at a compound growth rate (CAGR) of more than 208 percent annually to Rs 13.91 crore.
Talking about the last financial year 2023-24, in the first 11 months it has achieved a net profit of Rs 2.77 crore and a revenue of Rs 13.60 crore.