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Esprit Stones Makes Modest Market Debut with 7.1% Premium on NSE SME at ₹93

Esprit Stones' shares debuted on the NSE SME at ₹93.15, a 7.1% premium over the issue price of ₹87, showing a cautious investor response to its modest start.
Esprit Stones Makes Modest Market Debut with 7.1% Premium on NSE SME at ₹93

Esprit Stones had a modest start on the NSE SME, with its shares opening at ₹93.15, reflecting a 7.1% premium over the initial issue price of ₹87. This lukewarm debut underscores a cautious investor response despite the price increase.

On the final day of bidding, the Esprit Stones IPO witnessed a robust subscription, achieving a rate of 185.82 times the available shares. This strong demand highlights significant investor interest and confidence in the company’s potential and market prospects.

Esprit Stones Limited, established in 2016 and promoted by the Aravali and Gattani groups from Udaipur, manufactures engineered quartz and marble surfaces. Known for durability and variety, they expanded to include a premium domestic brand, “Haique”. The company exports to over ten countries, predominantly the USA, and is advancing domestically across 15 states with a new experience center in Kishangarh.

Esprit Stones Limited IPO aims to fund working capital, invest in Haique Stones Private Limited for debt repayment and growth, and allocate the remaining funds for general corporate purposes.

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