Despite weak stock market conditions, Ravelcare Ltd had a strong listing on the BSE SME. The company debuted at Rs 201 per share, giving it a premium of 55%.
After listing, the stock rose further, reaching an intra-day high of Rs 208.95. However, profit booking later pushed the price down by 5%, bringing the share to Rs 190.95.
IPO Price and Details
The price band for Ravelcare’s IPO was ₹130 per share. Investors could buy a single lot of 1,000 shares, but retail investors had to place a minimum bid of 2 lots. The IPO was open from December 1 to December 3.
The total IPO size was ₹24.10 crore, and it was based on fresh shares. Ravelcare issued 1.9 million fresh shares through the IPO. Anchor investors could invest starting November 28, and the company raised ₹6.83 crore from them.
High Investor Interest
The IPO saw very strong demand. Overall, it was subscribed 437.60 times. Breaking it down:
Individual category: 463.13 times
QIB category: 155.91 times
NII category: 752.16 times
Strong Signs from Gray Market
Even in the gray market, Ravelcare’s IPO showed strong demand, trading at a premium of ₹75, signaling a strong listing. According to Investors Gain, this indicated high investor interest before the official listing.