Shares of this recently listed stock under the micro-cap category hit the upper circuit in Tuesday’s trading session after a well-known Ace investor bought a stake in the company.
The stock was listed on October 3, 2023, on NSE at Rs. 146, which is a premium of 50.5% to the issue price of Rs. 97.
The stock is up more than 27% from its listing price and 90% from its IPO price. The IPO was subscribed 75.88 times in the retail category, 37.35 times in the Qualified Institutional Buyers (QIB) category and 200.78 times in the Non-Institutional Investors (NII) category.
On Tuesday, the shares of Saakshi Medtech and Panels Ltd hit the 5% upper circuit at Rs. 185.90 on NSE also recorded as the company’s fresh 52-week high price. The company has a market value of Rs. 328 Cr, making it a micro-cap company.
According to the NSE bulk deal data, Mr Ashish Kacholia, one of the well-known Ace investors in India, bought 6.22 lakh shares at Rs. 167.01 per share. On the other hand, Hem Finlease Private Ltd sold 6.20 lakh shares of the company at Rs. 167 per share.
Saakshi Medtech and Panels Ltd is a manufacturer of electrical control panels and cabinets that include microcontrollers, programmable logic controllers, and SCADA systems. These products are used in elevators, air compressors, the renewable energy industry, and electrical car charging stations, among other things.
Written by Shaeshari N
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