Storage Technologies and Automation Shines Bright with 90% Premium Debut at ₹148.20 on BSE SME

Storage Technologies and Automation Ltd launched on the BSE SME with shares soaring to ₹148.20, a 90% premium over the initial price, showing strong investor confidence and market potential.
Storage Technologies and Automation Shines Bright with 90% Premium Debut at ₹148.20 on BSE SME

Storage Technologies and Automation Ltd debuted on the BSE SME at a remarkable premium of 90%, with shares opening at ₹148.20. This strong listing significantly outperformed the initial issue price, highlighting robust investor confidence in the company’s market prospects.

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The Storage Technologies and Automation Ltd IPO, also known as the Racks & Rollers IPO, launched on April 30, 2024, and closed on May 3, 2024. It offered 38.4 million shares valued at ₹29.95 crore, with a face value of ₹10 each, attracting substantial investor interest with a 278.82 times subscription.

Founded in 2010, Storage Technologies & Automation specializes in creating metal storage racks and automated warehouse solutions tailored for various industries. They prioritise customer needs and innovation, providing ISO 9001:2015 certified storage solutions from their advanced Bangalore facility. The company oversees every aspect from design to delivery, ensuring quality through stringent checks and a dedicated team, consistently delivering cost-effective and superior products to exceed client expectations.

Storage Technologies & Automation Limited aims to raise funds through its IPO primarily for working capital needs, planning to allocate INR 2,750 lakhs in Fiscal 2025, supplemented by borrowings and internal accruals, and to support general corporate purposes.

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