"We Smoothly Overcame All The Challenges"
Why did your SME decide to go public through an IPO?
Having successfully executed our Initial Public Offering (IPO), the company strategically addressed several key objectives. The IPO served as a means to raise crucial capital, essential for bolstering our day-to-day operations and facilitating the smooth transition of business activities. Recognising the importance of working capital in achieving both short-term and long-term goals, this step was vital for the expansion and sustained growth of our enterprise. Additionally, the decision to go public aligned with the broader objective of providing investors with an opportunity for portfolio diversification. Also, our company recognised the significant role played by MSMEs as the backbone of the economy.
Can you share insights into the experience of the IPO listing? How would you describe the journey?
It was like a ‘Roller Coaster Ride’ throughout this amazing journey. From planning to execution, from converting the company from private to public, from appointing an underwriter to executing the brand campaign, from filing DRHP to launching the IPO, it was totally a different extravaganza. We should remember that there will be new responsibilities and restrictions that may come for the management post IPO, and this needs a proper assessment before going for public issue. It was very crucial.
How has the stock performed post listing? Have there been any notable trends or factors impacting its performance?
October 11, 2023! What a day it was! We made a historical IPO in an era of SMEs IPO. Our price band was Rs 36 to 38 against a lot size of 3,000 shares and it got listed at Rs 130. Our listing gain was 242 per cent which recorded the second place in highest listing gain in SMEs IPO. Investors have shown deep faith in our stock till date. January 11, 2024 was another remarkable day! Exactly after three months of listing, on this day our share hit the highest of all time at Rs 235.
How has the IPO impacted your visibility, credibility, and access to capital?
This is the rising trend in SMEs IPO, after going public, visibility and credibility of the company increases. And the same we have experienced after our successful IPO. Our company now has easy access to the capital market. Each story has its unique insights and unexpected outcomes! So, we have too! Early funding, a
strong business model, timing, investors sentiments, market potential, due diligence and brand recognition are required for a successful IPO. We learnt all this throughout our amazing IPO journey. We made it and earned it!
