Kontor Space, an emerging player in the space-as-a-service sector, made its debut on the NSE Emerge platform at Rs 122 per share on Tuesday. The company's shares were listed at a premium of 31.1% before hitting a lower circuit and settling at Rs 115.9 apiece.
The company successfully raised Rs 15.62 crore through an oversubscribed Initial Public Offering (IPO). The funds raised are slated for securing rental deposits for new co-working centers, conducting fit-outs, and covering various corporate expenses.
In the fiscal year 2023, Kontor Space reported a significant financial performance with a doubling of operation revenue compared to the previous fiscal year of 2022. This robust growth was accompanied by a multi-fold increase in net profit, underscoring the company's strong financial health and operational efficiency.
The debut of Kontor Space on the NSE Emerge platform marks a significant milestone for the company and reflects the growing investor interest in the space-as-a-service sector.
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