(MENAFN- KNN India) New Delhi, Apr 26 (KNN)
Faalcon Concepts Limited
made a debut on the BSE SME platform on April 26 with the company's shares listed at Rs 95, marking an impressive 53.25 per cent premium over the issue price of Rs 62.
The strong listing performance exceeded grey market estimates, where Faalcon Concepts shares were trading at a 14 per cent premium.
The grey market, an unofficial ecosystem where shares trade before the official listing, serves as an indicator for investors to gauge potential listing prices.
Faalcon Concepts Limited's Rs 12.09-crore initial public offering (IPO) witnessed overwhelming demand, with the issue being subscribed 71.28 times.
Non-institutional investors displayed exceptional interest, bidding 93.27 times their allotted quota of shares, while retail investors participated actively, subscribing 47 times their portion.
Established in 2018, Faalcon Concepts Limited has carved a niche in the facade industry, offering a diverse range of facade solutions designed to withstand various environmental challenges, including UV rays, acid rain, dust, noise, and other factors.
The company's product portfolio encompasses glazing and curtain walls, aluminium doors and windows, skylights, canopies, MS structures, stone cladding, metal cladding, and roofing solutions.
The proceeds from the IPO will be utilised by the company to meet working capital requirements, purchase equipment, and support general corporate purposes, further strengthening its operational capabilities and fuelling future growth.
(KNN Bureau)
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