The shares of Affle India has made a strong debut in the secondary market today. The share price of the advertising and media firm was listed at the upper end of the price band fixed at Rs 745 apiece, on both the bourses today.
On the National Stock Exchange (NSE), the stock of Affle India rose 24.3% or 181 points to Rs 926 in the opening session. Moreover, the Affle stock hit the day's high 199 points or 26.9% against the listing value at Rs 944.90 and a low of Rs 915.05.
On Bombay Stock Exchange (BSE), the stock price opened at Rs 929.90, registering an initial gain of 186.85 points or 25.1% higher . It then rose 213 points or 28.6% to Rs 958.3 on the exchange. The stock has, however, touched an intraday low of Rs 915.
As per data available on BSE, the Market Capitalisation generated on the very fisrt day of listing stands at Rs 2,200.72 cr.
Volume-wise, the shares changing hands totals to 2.50 lakh and 30.6 lakhs on BSE and NSE, respectively. As of 1020 hrs IST, the stock price of Affle India trades 25.4% higher at Rs 934.50 on BSE and 25.6% higher at Rs 933.90 on NSE.
"The equity shares of Affle (India) Ltd are listed and admitted to dealings on the exchange effective from August 08, 2019, in the list of 'B-group securities'", company's regulatory listing notification said.
The Rs 459 crore initial public offer (IPO) of the mobile marketing company Affle India, conducted from July 29 to July 31 in the price range of Rs 740 to Rs 745 per share, received an overwhelming response in the primary market, with investors over-subscribing as much as 86 times on its final day.
The IPO consisted of a fresh issue of 12.16 lakh shares worth Rs 90 crore and an offer for sale of 49,53,020 equity shares, including anchor portion of 27,72,483 equity shares. The 100 % book built issue IPO was at the face value of Rs 10 with a minimum order quantity of 20 equity shares (Lot size). The IPO received about Rs 206.55 crore from 15 anchor investors on July 26.
Incorporated in 2005, Affle (India) Limited is a leading global technology company with a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.
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Edited by Rupa Burman Roy