Esconet Technologies makes stellar debut on NSE with 245% premium over issue price

Esconet Technologies NSE Debut: Esconet Technologies' stock made a thumping debut on NSE SME on Friday as it was listed at Rs 290, a premium of over 245 per cent over the issue price of Rs 84. The stock of the tech firm was trading lower by 5 per cent, or Rs 14.50, at Rs 275.50 at 11:01 am on Friday. 

Esconet Technologies IPO

The IPO of Esconet Technologies had a stellar run as it was subscribed by 507.23 times, 553.02 times in the retail category, 156.02 times in QIB, and 868.05 times in the NII category by February 20, 2024. 

The IPO that opened on February 16 closed on February 20. 

The price band for the share was Rs 80-Rs 84 per share, while the face value was Rs 10. 

The book built issue IPO had a total issue size of 3360000 shares (aggregating up to Rs 28.22 crore) and a fresh issue size of 3,360,000 shares (aggregating up to Rs 28.22 crore). 

The lot size for the IPO was 1600 shares. 

What does Esconet Technologies do?

Known for its cutting-edge solutions, Esconet Technologies is into high performance computing IT infrastructure, seamless system integration, and in-house service delivery. It specialises in Hexadata and Zeacloud Services.