The stock closed at Rs 858, up 15 per cent or Rs 113 over the issue price of Rs 745 per share.
The good listing follows huge demand for the Microsoft-backed firm’s IPO, which was subscribed 87 times. The mobile marketing firm’s IPO comprised fresh equity issuance worth Rs 90 crore and offer for sale worth Rs 350 crore by promoter Affle Holdings.
At its current price, the company is valued at Rs 2,231 crore, which is over 40 times its FY19 consolidated earnings. Analysts believe though the valuations are high, Affle’s niche business and growth prospects make it an attractive bet.
Affle helps companies in delivering contextual mobile ads through its consumer intelligence platform, reduce digital ad fraud and address privacy concerns. The platform is primarily used by companies across industries such as e-commerce, fin-tech, telecom, media, retail, and FMCG. Affle’s consumer platform has more than 1.5 billion consumer profiles and above 163 billion consumer data points.
The company in 2018-19 had reported consolidated revenue of Rs 269 crore and net profit of Rs 52 crore.