Encompass Design India, a consumer products company, made a remarkable debut in the Indian stock market today, December 12. The company's share price was listed at ₹203.30 apiece on the NSE SME platform, which is a 90% premium over the issue price of ₹107.
The IPO listing exceeded Street expectations, with a grey market premium (GMP) of ₹80 per share. This indicated a likely listing price of around ₹187, which is a 74.77% premium over the upper end of the issue price band.
Here are some key details about the Encompass Design India IPO:
The company plans to use the proceeds from the IPO for various purposes, including:
Encompass Design India Limited (EDIL) is a consumer products company that operates under the brand name 'ScaleSauce'. The company specializes in building and expanding consumer brands across India, focusing on the home, living, and food categories. EDIL's core operations include the production of home and lifestyle goods, as well as a range of food items, particularly sauces, marketed under its various in-house brands.
Disclaimer: This story is for educational purposes only. Investors should consult with certified experts before making any investment decisions.
Download the TradeKaizen app to practice F&O trading with real-time market data anytime, anywhere.
Get it on Google PlayConnect with fellow traders, share strategies, and improve your trading skills in our Telegram group.
Join Telegram