Maitreya Medicare and Mish Designs made a robust entry into the market on Tuesday, with their shares trading at a premium on the National Stock Exchange (NSE) Small and Medium Enterprises (SME) and Bombay Stock Exchange (BSE) SME platforms, respectively.
Maitreya's shares were listed at ₹162.55 on NSE SME, which marks a staggering 98.2% premium over its issue price of ₹82 in a ₹14.89-crore (INR10 crore = approx. USD1.2 million) public issue. The healthcare company, under the guidance of promoters Narendra Singh Tanwar, Pranav Rohitbhai Thaker, and Vimalkumar Natverlal Patel, intends to utilize the raised funds to establish a 125-bed hospital in Gujarat as well as to address working capital needs.
On the other hand, shares of Mish Designs began trading at ₹160 on BSE SME, reflecting a substantial 31% premium over its IPO price of ₹122 in a ₹9.76-crore issue. The fabric processing firm, led by Kaushal Goenka and Sajan Bhartia, plans to allocate the raised capital towards working capital requirements and marketing initiatives.
The successful initial public offerings (IPOs) of both Maitreya Medicare and Mish Designs demonstrated strong investor interest, as indicated by high subscription rates. This robust performance underscores the growing investor confidence in SMEs in India's evolving economic landscape.
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