Tuesday, 02 January 2024 12:17 GMT

Sat Kartar Shopping Shares Debut At 90 Pc Premium On NSE Emerge


(MENAFN- KNN India) New Delhi, Jan 17 (KNN) Sat Kartar Shopping Limited's shares listed on the NSE Emerge platform today at Rs 153.90, marking a substantial 90 percent premium over its initial public offering (IPO) price.

The ayurvedic healthcare company's SME issue had garnered significant investor interest during its three-day subscription period from January 10-14, achieving an impressive oversubscription of more than 300 times.

The company, which specialises in natural wellness solutions through its direct-to-consumer (D2C) business model, raised Rs 33.8 crore through its maiden public offering. The IPO was priced between Rs 77 and Rs 81 per share, with a lot size of 1,600 shares.

Prior to the public listing, Sat Kartar Shopping had secured Rs 9.55 crore from six institutional investors on January 9, including notable names such as Pine Oak Global Fund, Zeta Global Funds, Silver Stride India Global Fund, and Saint Capital Fund.

The company, which markets its Ayurveda products through its proprietary D2C website and various third-party e-commerce platforms, plans to utilise the IPO proceeds for several strategic initiatives.

These include unidentified acquisitions, marketing and advertising campaigns, capital expenditure, and technological infrastructure investments to strengthen its market position in the growing natural wellness sector.

(KNN Bureau)

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