Pratham EPC IPO Marks Strong Debut, Lists at 51% Premium on IPO Price

Pratham EPC Projects Makes Stellar Debut and Hit 5% Upper Circuit

Pratham EPC Projects IPO made a strong debut on the NSE SME today, with its share price opening at ₹113.30, a 51.07% increase from the issue price of ₹75. This performance exceeded the earlier expected listing price of ₹102, indicating a 36% surge. Before listing, the unlisted market had shown a premium of ₹27 per share, adding to the anticipation surrounding Pratham EPC Projects. However, recent trends suggest a slight downturn in the unlisted market. After the listing, the share price of Pratham EPC hit the upper circuit of 5% indicating robust demand in the market as there are no sellers offering shares. This situation has left potential buyers unable to make purchases. Presently, the stock is trading at ₹118.95 per share. Its market capitalization stood at approximately ₹211 crore indicating that investors gained approximately ₹78 crore from the issue price.

Pratham EPC IPO Subscription and IPO Details

Pratham EPC IPO opened for subscription on 11 March and closed on 13 March, IPO price band was set between ₹71 to ₹75 per share with a lot size of 1,600 shares. For Pratham EPC Ipo Investors had the option to bid for a minimum of 1,600 shares and in multiples. By the third day of subscription, Pratham EPC Projects IPO was oversubscribed 178.54 times. Retail portion was subscribed 179.48 times while non institutional investors showed even greater interest by subscribing 320.53 times. A portion reserved for Qualified Institutional Buyers was oversubscribed 70.28 times.  Based on exchange data the company raised approximately ₹10.24 crore from anchor investors through the allocation of 13.66 lakh shares at a price of ₹75 per share.  It is solely a fresh issue without any OFS component. proceeds from this fresh issuance will be allocated for general company purposes, fulfilling working capital requirements and purchasing machinery.

Read Pratham EPC Projects IPO Subscribed 177.92 times

About Pratham EPC

Established in 2014, Pratham EPC Project offers comprehensive services to oil and gas utilities in India, specializing in integrated engineering, procurement, construction and commissioning. The company focuses on gas pipeline projects including welding, testing and commissioning as well as oil and gas pipelines and offshore water distribution projects. They handle tendering and project management. With over 12 completed projects their largest project amounted to approximately ₹13,184.10 lakhs. As of 31 March 2023, the company has six major projects. 5 projects worth approx ₹19,397.33 lakhs have been confirmed while projects worth ₹16,952.80 lakhs are pending execution. One project has been completed, with an order worth around ₹40,667.29 lakhs indicating a robust order book.

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To Summarize

Pratham EPC Projects made a great start on the NSE SME platform, leaving investors with an important choice sell now for quick gains or hold on for potential future benefits. Some may sell to secure profits while others willing to take risks may hold on betting on the company's bright future. Either way, the successful listing shows Pratham's potential in the oil and gas sector indicating ongoing growth and value.