Business Desk – Vivid Electromech IPO Listing: Shares of Vivid Electromech debuted at a premium on the NSE SME platform today. This happened when its IPO got mixed response from investors. Even half of the reserved portion for retail investors could not be subscribed.

Shares were allotted to IPO investors at a price of Rs 555. Today, the stock listed on NSE SME at 565.00, which means IPO investors got a listing gain of 1.80%. After listing the share price increased further and reached Rs 588.00. As a result, IPO investors are now in profits of 5.95%.

How will the funds received from Vivid Electromech IPO be used?

Vivid Electromech’s ₹131 crore IPO was open for subscription from March 25 to March 30. The IPO received a mixed response from investors and was subscribed 1.06 times overall. In this, the reserved portion for Qualified Institutional Buyers (QIBs) was subscribed 1.95 times, the portion for Non-Institutional Investors (NIIs) was subscribed 1.50 times. The share of retail investors was subscribed 0.36 times. Under this IPO, new shares worth Rs 105 crore were issued.

In addition, 4.68 lakh shares each of which had a face value of Rs 10. Sold through Offer for Sale (OFS) window. The selling shareholders have received the proceeds from OFS. At the same time, out of the amount raised by issuing new shares, Rs 43.84 crore will be used to set up a new manufacturing unit. Rs 9.30 crore will be used to reduce debt. Rs 36.00 crore will be used to meet the needs of working capital. The remaining amount will be kept for general corporate needs.

About Vivid Electromech

Established in 1990, Vivid Electromech manufactures low-voltage and medium-voltage electrical panels and automation systems. Its products are used in various sectors, including data centers and technology, infrastructure, metro projects, construction and real estate, solar and renewable energy, and industrial manufacturing. The company operates two manufacturing units located in Navi Mumbai and Pune, Maharashtra.