Acetech E-Commerce Makes Flat Debut on NSE SME at IPO Price of ₹112

Acetech E-Commerce IPO Makes Flat Debut in Indian Stock Market

On March 9, Acetech E-Commerce made its debut in the Indian stock market with a flat listing. The company's shares listed at the IPO price of ₹112 per share on the NSE SME, resulting in no gain or loss for the IPO allottees. This outcome was in line with market expectations, as the GMP (Grey Market Premium) of the IPO was ₹0 prior to listing.

Acetech E-Commerce's share price rose by up to 5% to ₹117.60 per share immediately after listing. The company's IPO, which was open for subscription from February 27 to March 4, received moderate investor participation, with the issue being subscribed 1.14 times overall. The retail segment was subscribed 1.16 times, while the non-institutional investor category saw 1.57 times subscription. The portion reserved for qualified institutional buyers was subscribed just once.

The ₹49-crore IPO, which consisted entirely of a fresh issue of 43.7 lakh equity shares, raised ₹48.95 crore. The company plans to utilize the proceeds from the IPO for various purposes, including marketing and advertising expenses, meeting working capital needs, financing potential acquisitions, and supporting general corporate purposes.

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Acetech E-Commerce, incorporated in 2014, operates in the e-commerce services segment, offering a variety of consumer-focused products, including wellness items, accessories, and equipment. The company manages the entire e-commerce value chain, covering product research, sourcing and procurement, warehousing, order fulfillment, marketing, and online marketplace management. It operates warehouses in Bhiwandi, Bengaluru, and Delhi to support order fulfillment across regions.

The book-running lead manager for the IPO is Gretex Corporate Services, and the registrar of the issue is Skyline Financial Services.