Now Reading: Anawil Wire debuts at 22% premium on NSE SME
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Anawil Wire debuts at 22% premium on NSE SME
Shares of Anawil Wire and Engineering opened at Rs 329.65 on the NSE SME on Monday, a 22% premium over the IPO price of Rs 270. The stock later touched a high…
The Story in Brief
Shares of Anawil Wire and Engineering opened at Rs 329.65 on the NSE SME on Monday, a 22% premium over the IPO price of Rs 270. The stock later touched a high of Rs 336.90 and a low of Rs 313.20. It was trading at Rs 318 around 10:20 AM, up 17.78% from the issue price. The grey market premium before listing was Rs 58, pointing to a likely listing price of Rs 328.
The Indian Opinion
The 22% listing pop and 149-times subscription feed the usual narrative about SME IPO frenzy. But the real story is the company's revenue leaping from Rs 54 crore to Rs 143 crore in two years while profit rose nine-fold. Such steep growth rarely continues linearly. The volatility after the open, the stock swung from Rs 336.90 to Rs 313.20, suggests profit-taking is already underway. The test now: can Anawil sustain its order book as wind energy tariffs face renewed pressure from discoms?
Source: livemint.com
This story was synthesised by AI from the source linked above.
