Piotex Industries share price opened on the BSE SME exchange at ₹109 apiece, delivering around 16 percent listing gain to the lucky allottees against the SME IPO price of ₹94. The newly listed BSE SME stock extended its listing gains and touched an intraday high of ₹114 within a few minutes of Piotex Industries IPO listing. On successful listing on the BSE, Piotex Industries shares became the 32nd SME stock to be listed on the BSE. Piotex Industries share is the 48th BSE stock listed at a premium in 2024. Fifty-nine shares have been listed on BSE this year, of which 32 belong to the SME segment.
The initial public offering (IPO) of Piotex Industries Limited, which opened on 10th May 2024 and closed on 14th May 2024, received an overwhelming response from the market, a clear testament to the strong investor confidence in the company’s potential. The SME IPO, offered at a fixed price of ₹94 per equity share, was subscribed around 107 times, a remarkable figure that reflects the high expectations and optimism surrounding Piotex Industries.
In 2024, a total of 59 shares were listed on the BSE, 27 of which were mainboard shares, and 32 were SME shares. Piotex Industries, the latest SME stock to be listed on the BSE, added to the exclusivity of the market. After the successful listing of Piotex Industries shares on the BSE, the total number of BSE stocks listed above the issue price became 48, a testament to the company’s strong performance. Out of the 59 shares listed on the BSE in 2024, only nine shares were listed at a discount, further highlighting the rarity and exceptional performance of Piotex Industries.
The company proposes to use the net issue proceeds towards funding the working capital requirement and general corporate purpose.
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