Aspire & Innovative Advertising Makes Modest Debut, Opens with 4.60% Premium

Tanushree Jaiswal 4th April 2024 - 10:50 am

Aspire & Innovative Advertising made its debut on NSE SME platform with listing price of Rs 56.50, marking premium of 4.62% over issue price of Rs 54. listing witnessed tepid market entry, reflecting moderate investor enthusiasm. IPO, amounting to Rs 21.9 crore, garnered overall subscription of 15.17 times, showcasing decent interest from investors across categories.

Operating within consumer durables trading sector, Aspire & Innovative Advertising offers array of products sourced from renowned brands like Bajaj, Prestige, Vivo, & Samsung. Established in 2017, company aims to deliver essential yet advanced products to rural & semi-urban communities, focusing on doorstep deliveries to underserved areas.

The IPO consisted solely of fresh issue of 4,068,000 equity shares, with no offer-for-sale component. Retail investors exhibited notable interest, subscribing to their segment 16.39 times, while non-institutional buyers showed strong enthusiasm with subscription of 25.60 times. qualified institutional buyers (QIBs) section witnessed subscription of 5.21 times.

Regarding financial performance, company's revenue witnessed steady growth trajectory from Rs 10,833.44 lakhs in FY21 to Rs 34,620.10 lakhs in FY23. Profit after tax (PAT) also demonstrated upward trend, reaching Rs 530.85 lakhs in FY23.

To Summarize

While listing premium was moderate, debut on NSE SME platform provides Aspire & Innovative Advertising with access to capital for expansion, working capital requirements, debt repayment, & general corporate purposes. company's focus on delivering essential products to underserved markets, coupled with its promising financial performance, positions it for potential growth opportunities in consumer durables sector.

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Tanushree Jaiswal

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