Creative Graphics Solutions India made a stunning debut on the NSE SME platform today. The company’s share price opened at ₹175, reflecting a massive increase of 105.88% over the issue price of ₹85.
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The Creative Graphics IPO closed for bidding on Thursday, April 4, after being open for subscription from Thursday, March 28. The price band for the IPO was set at ₹80 to ₹85 per share, with a lot size of 1,600 shares.
Before the IPO launch, Creative Graphics Solutions had already secured ₹15.5 crore through an anchor book on March 27, with participation from eight institutional investors who were allotted 18.24 lakh equity shares.
The company intends to utilize the proceeds from the IPO, particularly from the fresh issue, for various purposes such as working capital requirements, debt repayment, capital expenditure, and potential acquisitions for inorganic growth.
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With its operations spanning across multiple countries including India, Africa, Thailand, Qatar, Kuwait, and Nepal, Creative Graphics Solutions India Limited is well-positioned to leverage the funds raised through the IPO to support its expansion plans and strategic initiatives.
Creative Graphics Solutions India IPO garnered significant attention from investors, with a subscription of 187.82 times on the final day of bidding. Non-institutional investors led the subscription, oversubscribing by 473.2 times, followed by retail investors at 144.6 times, and qualified institutional buyers at 98.8 times their allotted quota.
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Price Action: Creative Graphics shares were locked in the 5% upper circuit at ₹183.75 on Tuesday.
