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QVC Exports IPO Rockets to ₹161 on NSE Debut, Then Falls Back to ₹152.95

QVC Exports shares debuted on the NSE SME platform on August 28 at ₹161, an 87.21% premium over the ₹86 issue price, but later declined to ₹152.95.
QVC Exports IPO Rockets to ₹161 on NSE Debut, Then Falls Back to ₹152.95

QVC Exports made its debut on the NSE SME platform on August 28 with shares opening at ₹161, representing an 87.21% premium over the ₹86 issue price. However, the shares later decreased to ₹152.95.

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QVC Exports’ IPO open from August 21 to August 23, raised ₹24.07 crore through a fresh issue and an offer for sale. The IPO was oversubscribed 535 times, with the retail and other categories subscribed 419 and 597 times, respectively. 

QVC Exports deals in ferroalloys like silico manganese and ferrochrome, and raw materials for steel manufacturing. As of March 31, 2024, 82.95% of its revenue came from exports to global steel manufacturers. The company is certified under ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 by Bureau Veritas (India) Private Limited.

QVC Exports Limited’s IPO aimed to raise capital for purposes like expansion, technology upgrades, debt reduction, or general corporate needs. This IPO involved raising funds through both a fresh issue of shares and an offer for sale.

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