Affle India has fantastic listing

about 4 months ago
No Image

 

Affle India got listed on the bourses today and it was expected to get listed at 20-25% premium as its R.459 crore IPO was subscribed by a whopping 86.49 times.

As against the issue price of Rs.745, it got listed at Rs.929.90, a premium of 25% and it even rose to Rs.958 levels. But from there it has turned volatile, going down Rs.751.05 and is currently at Rs.812.

Gurgaon and Singapore based Affle India provides B2C digital advertising services in the mobile space, undertaking customer acquisition, engagement and transactions through mobile advertising.

In the IPO, HNIs took on the lions share at 199 times subscription, QIBs at 55.3 times and retail investors at 10.96 times.

In our IPO Analysis, we had concluded, “While company will possess the ‘small cap’ tag post listing, its presence in the new age tech and high growth industry (with both mobile and advertising here to stay) make it attractive buy. Thus, one can apply in the IPO.”

Popular Comments

No comment posted for this article.