NSE SME: Anlon Technology Solutions spurts on debut

Shares of Anlon Technology Solutions were trading at Rs 263.65 at 12:20 IST on the NSE, a premium of 163.65% compared with the issue price of Rs 100.

The scrip was listed at Rs 251.10, representing a premium of 151.1% compared with the initial public offer (IPO) price.

So far, the scrip hit a high of Rs 263.65 and a low of Rs 250. Over 6,38,400 shares of the company have changed hands in the counter till now.

The IPO of Anlon Technology Solutions received bids for 42,74,16,000 shares as against 15,00,000 shares on offer. The issue was subscribed 284.94 times.

The retail individual investors (RIIs) category bought 22,31,74,800 shares. The non institutional investors category subscribed to 18,87,32,400 shares. The qualified institutional buyers (QIBs) category put in bids for 1,55,08,800 shares.

The issue opened for bidding on 29 December 2022 and it will close on 2 January 2023. The price band of the IPO was fixed at Rs 95-100 per share.

The issue size comprised of fresh issue of 15,00,000 equity shares having a face value of Rs 10 each.

The company intends to utilize the net proceeds from the issue for funding working capital requirements and for general corporate purposes.

Anlon Technology Solutions is primarily engaged in the business of providing engineering services for engineering systems, built on automotive chassis and allied areas, majorly for airports, high rise buildings and refineries. The company also sells spare parts for performing engineering services which is ancillary part of the engineering services.

The company had recorded net profit of Rs 2.39 crore and revenue from operation of Rs 13.20 crore for the period ended on 30 September 2022.

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