A small company Sylvan Plyboard has made a good start in the stock market. Shares of Sylvan Plyboard rose 20% on Monday, July 1 to Rs. 66 was listed in the market. The company’s share price in the IPO was Rs. was 55. The IPO of Sylvan Plyboard was opened on 24th June and remained open till 26th June. The total public issue size of the company is Rs. 28.05 crores. Sylvan Plyboard’s shares are listed on the SME platform of the National Stock Exchange.
Shares of the company have increased after the brilliant listing
After a good listing, shares of Sylvan Plyboard rose nearly 5% to Rs. 69.20 has been done. On Monday, the company’s share was also Rs. It reached a low of 62.70. The company will use the funds raised from the issue to meet working capital requirements and for general corporate purposes.
Explosive listing of SME IPO, money doubles on first day, investors happy
Bets were placed more than 84 times on the IPO
Total bets on Sylvan Plyboard IPO were 84.03 times. The company’s IPO was subscribed 84.11 times the quota of retail investors. At the same time, bets were placed 75.42 times in other categories. Retail investors can bid for 1 lot in a company’s IPO. There are 2000 shares in one lot of IPO. That is, retail investors invested Rs. 1.10 lakhs was to be invested.
The IPO came in at ₹ 32, the price touched ₹ 200 today, shares rose 5% after this good news
What does the company do?
Sylvan Plyboard was launched in the year 2002. The company manufactures various wood products such as plywood, blackboard, flush doors, veneer and sawn timber. The company’s products meet the quality standards of the Bureau of Indian Standards. The company has 223 authorized dealers in 13 states. The promoters of the company are Singh Suppliers Private Limited, Anand Kumar Singh, Jai Prakash Singh, Shakuntala Singh and Kalyani Singh.