Supreme (India) Impex trades just a tad above the IPO price

Shares of Supreme (India) Impex were trading at Rs 61.50 at 13:56 IST on NSE, a premium of 2.50% over the initial public offer price of Rs 60.

The stock debuted at Rs 62 on NSE, a premium of 3.33% from the initial public offer (IPO) price. The stock hit a high of Rs 62 and a low of Rs 61 so far during the day. On NSE, 1.94 lakh shares were traded on the counter so far during the day.

Shares of Supreme (India) Impex made their debut on the National Stock Exchange's EMERGE SME Platform today, 31 March 2015. The company had completed fund raising this month through a fixed priced initial public offer (IPO) at Rs 60 per share.

The company promoted by Mr. Jugalkishore Jhawar is engaged in textile sector. The company makes fabrics, apparels, garments, dress materials etc. The company offers value-added work such as handwork, sequencing and embroidery on fabrics. It has recently diversified its presence into Multi Ply Yarn which is used in making home furnishing items like carpets, terry towels, fashion fabrics and others.

As per the restated financials, the company reported consolidated net profit of Rs 2.70 crore on revenue of Rs 185.45 crore for the six-month period April-September 2014. As per the restated financials, the company reported consolidated net profit of Rs 5.26 crore on revenue of Rs 342.42 crore for the year ended 31 March 2014. The company proposes to utilize the funds raised from the IPO primarily for working capital requirements.

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