Affle India makes strong debut, lists at 25% premium to issue price
The shares of Affle India has made a strong debut in the secondary market today. The share price of the advertising and media firm was listed at the upper end of the price band fixed at Rs 745 apiece, on both the bourses today. On the National Stock Exchange (NSE), the stock of Affle India rose 24.3% or 181 points to Rs 926 in the opening session. Moreover, the Affle stock hit the day's high 199 points or 26.9% against the listing value at Rs 944.90 and a low of Rs 915.05.
On Bombay Stock Exchange (BSE), the stock price opened at Rs 929.90, registering an initial gain of 186.85 points or 25.1% higher . It then rose 213 points or 28.6% to Rs 958.3 on the exchange. The stock has, however, made a low of Rs 915. As per data available on BSE, the Market Capitalisation generated on the very fisrt day of listing stands at Rs 2,200.72 cr.
"We received approximately 2,96,561 applications across all investor segments, subscribing to Affle India IPO by 86.48 times. We pledge to focus on sustainable growth and to take Affle to greater heights from here," Affle (India) Limited chairman, managing director, chief executive officer Anuj Khanna Sohum told news agency PTI.
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