NSE SME Enser Communications makes a weak debut

Shares of Enser Communications were quoting at Rs 69.95 on the NSE, a discount of 0.07% compared with the issue price of Rs 70.

The scrip was listed at Rs 72, a premium of 2.86% compared with the initial public offer (IPO) price. The stock is currently down 2.85% over its listing price.

The counter hit a high of Rs 74 and a low of Rs 68.50. About 8.18 lakh shares of the company changed hands at the counter.

Enser Communications' IPO was subscribed 6.96 times. The issue opened for bidding on 15 March 2024 and it closed on 19 March 2024. The price of the IPO was fixed at Rs 70 per share.

The IPO comprised fresh issue of 23,10,000 equity shares. The promoter and promoter shareholding diluted to 66.24% from 90.13% pre-IPO.

The company intends to utilize the net proceeds to meet working capital requirements, to setting up of new service unit, issue related expenses and general corporate purpose.

Enser Communications is a company specializing in Business Process Management (BPM) solutions. Their technology integrates various communication channels (voice, chat, email, etc.) to help businesses acquire and serve customers effectively. They offer a range of services including data analysis, customer relationship management (CRM), automated phone systems (IVRS), and overall customer interaction solutions. As of 31 December 2023, they have a workforce of 780 full-time employees.

The company recorded revenue from operations of Rs 18.08 crore and net profit of Rs 2.13 crore for the period as on 30 September 2023.

Powered by Capital Market - Live News