Finelistings Technologies Marks Tepid Debut, Lists at 3.25% PremiumFinelistings Technologies Marks Tepid Debut, Lists at 3.25% Premium

Finelistings Technologies had a modest market debut, opening at ₹127 on BSE SME, which represents just a 3.25% increase over its issue price of ₹123. This subtle premium indicates a slower-than-expected start for the company’s shares.

The ₹13.53-crore offering saw strong demand, being oversubscribed 37 times. Retail investors led the charge, subscribing 39 times their allocation, while non-institutional investors showed significant interest as well, purchasing 30 times their designated share of the issue.

Finelistings Technologies specializes in pre-owned luxury car sales and software development, focusing on digital transformation. Based in NCR’s Ambience Mall, they offer financial services, after-sales support, and leverage online-offline channels, selling 100 cars since 2020 while also providing custom software solutions.

Finelistings Technologies aims to invest ₹5 crores in diverse software and bolster working capital to support FY 2024 growth, with funds also allocated for general corporate purposes and strategic initiatives.