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Sollfege Smart Electronics Shares Hit Lower Circuit After 90 Percent Listing Gains
M
Moneycontrol•08-10-2026, 11:16
Sollfege Smart Electronics Shares Hit Lower Circuit After 90 Percent Listing Gains
- •Sollfege Smart Electronics SME shares hit the 5 percent lower circuit at Rs 99.18 on the BSE following heavy profit booking.
- •The stock made a strong market debut earlier in the day, listing at Rs 104.40 which marked an 89.81 percent premium over the issue price of Rs 55.
- •The Kolkata-based smart living solutions provider had successfully raised Rs 21.78 crore through its initial public offering.
- •The IPO witnessed a subscription of 2.08 times during the three-day bidding period with total bids for 82.56 lakh shares.
- •Proceeds from the issue will be utilized to open 12 new showrooms, support working capital needs, and fund general corporate purposes.
Key Questions Answered
Sollfege Smart Electronics shares hit the 5 percent lower circuit due to heavy profit booking at higher levels following a strong market debut with an almost 90 percent premium.
The Kolkata-based company raised Rs 21.78 crore through an initial share sale of 39.6 lakh equity shares at a fixed price of Rs 55 apiece.
The net proceeds will be used to expand its retail network by launching 12 new showrooms, meet working capital requirements, and fund general corporate purposes.
