• Source:JND
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IPO Listing:  Shares of Esconet Technologies on Friday made a stellar debut on the stock market, doubling investors' money on its listing day. The company's shares started trading at rs 290 with a premium of 245 per cent, and later soared to an intraday high of Rs 294.95, giving qualified investors a profit of 251 per cent.

However, the surging trend was short-lived as the stock later dipped by 5 per cent to Rs 275.50. Notably, the company announced a price range of Rs 80-84 per share for its initial public offering.

What was the lot size?

Esconet Technologies offered shares in lots of 1600 For retail investors, which required a minimum investment of Rs 1,34,400. The IPO, which was opened on February 16th and closed on February 20, got a higher subscription of 507 times overall. of the total subscription, the retail category being oversubscribed by a whopping 553.02 times. Throughout the three-day subscription period, the IPO received bidding of more than 600 times its issue size.

The Esconet Technologies IPO raised a total of Rs 28.22 crore, with an issuance of 33.6 lakh fresh shares to the public.