Piotex Industries saw its shares debut on the BSE SME exchange at ₹109 each, marking a significant 16% increase over the SME IPO price of ₹94, thereby delivering a notable listing gain to fortunate allottees. The newly listed stock quickly surged to an intraday high of ₹114, consolidating its listing gains shortly after its IPO debut. With its successful listing, Piotex Industries became the 32nd SME stock to join the BSE, contributing to the 48th BSE stock listed at a premium in 2024 out of a total of 59 shares listed on the exchange.
The overwhelming response to Piotex Industries’ IPO, which opened on May 10, 2024, and closed on May 14, 2024, underscores the robust investor confidence in the company’s potential. The IPO, priced at ₹94 per equity share, witnessed an impressive subscription of approximately 107 times, highlighting the high expectations and optimism surrounding Piotex Industries’ prospects.
In 2024, a total of 59 shares were listed on the BSE, with 27 being mainboard shares and 32 belonging to the SME segment. Piotex Industries’ listing further enriched the diversity of offerings in the market. Its successful debut also contributed to the tally of BSE stocks trading above their issue price, reinforcing the company’s strong performance. Notably, out of the 59 shares listed on the BSE in 2024, only nine were listed at a discount, emphasizing the exceptional performance of Piotex Industries.
The net proceeds from the IPO are earmarked for funding the company’s working capital requirements and general corporate purposes.
