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Gajanand IPO Surges 17% on Debut but Fails to Spark Investor Frenzy

Gajanand International's shares debuted at Rs 42 on the NSE's SME platform, a 17% premium, surpassing grey market expectations where shares were trading without a premium.
Gajanand IPO Surges 17% on Debut but Fails to Spark Investor Frenzy

Gajanand International’s shares debuted at Rs 42 on September 16 on the NSE’s SME platform, a 17% premium. This surpassed grey market estimates, where shares traded without a premium before listing.

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Despite the SME IPO excitement, Gajanand International’s IPO was underwhelming, being subscribed only 15.27 times in three days. Retail investors purchased 24 times their quota, non-institutional investors took up 5.7 times, and QIBs did not participate.

Gajanand International Limited, originally Gajanand Cottex Private Limited (2009), received its latest incorporation certificate on June 18, 2024. ISO 9001:2015 certified, it produces Mech1 and Shankar6 cotton using advanced ginning and quality control facilities. The company focuses on high-quality cotton, long-term client relationships, and efficient production through modern machinery and skilled staff.

The objective of Gajanand International’s IPO is to raise capital for expanding its business operations, enhancing production capacity, and funding working capital needs. The IPO aims to strengthen the company’s financial position and support future growth initiatives.

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हिडन जैम: अग्रणी कंपनी, जो एयरपोर्ट लाउंज में 90% बाजार हिस्सेदारी रखती है।पूरी जानकारी पढ़े!

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