Two SME debutants Concord Control Systems and Silicon Rental Solutions, which debuted on the market on the same day, October 10, are trading at levels that are more than double the price of shares issued to IPO investors. While Concord Control already had a strong listing, the scrip built on gains and is up 355 per cent since its October 10 listing. Silicon Rental Solutions’ listing on October 10 was slow, but since then the stock has rallied 117 per cent.
The Rs 5.96 crore Concorde Control Systems IPO that ran from September 27 to September 29 was subscribed 202.41 times. The stock got listed at Rs 109.95 on BSE at an issue price of Rs 55. The Engineering (Industrial Equipment) company was last seen up by 355.18 per cent at Rs 250.35 per piece.
In the case of Silicon Rental Solutions, the stock was muted at Rs 80 on October 10 as against the issue price of Rs 78. The stock last traded up 117.24 per cent at Rs 169.45. The IPO ran from September 28 to September 30 and was subscribed 2.89 times.
Silicon Rental Solutions is an IT equipment outsourcing company, engaged in providing end-to-end IT equipment on rental and refundable basis in India. The company mainly provides laptops, desktops, printers, servers and other accessories like CCTV cameras, projectors, storage devices etc. to small, medium and large corporate.
Silicon Rental Solutions, a part of the SME IPO Index, has touched a high of Rs 186.70 and a low of Rs 80 during the two months of listing.
On the other hand, Concorde Control Systems is engaged in the business of manufacturing and supplying coach related and electrification products to Indian Railways and other railway contractors. The company manufactures products required in railway coaches such as inter-vehicle couplers, emergency lighting systems, brushless DC carriage fans, exhaust fans, cable jackets, bellows etc. and products required for electrification of coaches and battery chargers for the broad gauge network of the Indian Railways Is. 200 AH, Battery Charger 40 AH, Tensile Testing Machine.
The scrip, which is also a part of the SME IPO Index, has touched a high of Rs 298.90 and a low of Rs 109.95 during the two months of listing.
Read also: JSW Energy shares jump 3% on commissioning of 450 MW wind project