Enfuse Solutions Services Lists at 20% Premium at Rs 115 per share on NSE

Enfuse Solutions Limited provides integrated digital solutions in the areas of data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, and technology solutions, debuted on the Indian stock market today.

The stock of Enfuse Solutions Services opened at Rs 115 per share on the NSE, indicating an impressive 19.79% premium over the final issue price of Rs 96 per share. The market capitalization on the NSE stands at Rs 101.75 crore.

IPO Proceeds

The company aims to use the Net Proceeds from the Fresh Issue for Repayment or partial repayment of existing borrowings, for Meeting working capital needs, and General corporate purposes.

Business Overview

Incorporated in 2017, Enfuse Solutions Limited provides integrated digital solutions in the areas of data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, education, and technology solutions.

The company operates in four areas:

• Data Management & Analytics, where the focus is on analyzing data to make informed decisions.
• E-commerce & Digital Services, which develops and optimizes digital platforms for seamless online experiences.
• Machine Learning & Artificial Intelligence, offering innovative solutions.
• Edtech & Technology Solutions, which improves the educational experience and offers technological solutions.

The company has two delivery centers, one in Thane, Maharashtra, and the second in Vikhroli, Mumbai, Maharashtra.

Subscription details

On March 19, 2024, the final day of the IPO window, the IPO witnessed an impressive response, with a subscription rate of 357.31 times. The public issue received remarkable interest, with the retail category being subscribed 248.42 times, while the DII and NII categories reached a subscription rate of 99.97 and 953.22 times respectively.

The IPO price band was Rs 91 and Rs 96, with a face value of Rs 10 per share and a lot size of 1200 shares. The total size of the company’s IPO was Rs 22.44 crore, and the final share issue price was fixed at Rs 96 each.

Conclusion

The crucial question that arises in everyone’s mind is whether to hold onto the shares or book profits. Investors who applied for listing gains only have already earned 20% on the listing day itself and can choose to book the profit it has generated. On the other hand, investors with a higher risk appetite may opt to hold the shares for the medium to long term, which could prove to be beneficial.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.