Anlon Technology Solutions, the latest debutant of Dalal Street, has delivered a solid listing pop of 150 per cent to its investors on Tuesday. It is one of the best listing pop in the near term, even in the SME segment.
Anlon Technology Solutions, which debuted on NSE’s SME platform, got settled at Rs 250 per share on Tuesday, rising 150 per cent higher than its issue price of Rs 100 apiece.
During its maiden trading session, the stock rose another 5 per cent to Rs 263.65 on Tuesday, extending the overall gains to 165 per cent over the given issue price of Rs 100.
The initial public offering (IPO) of Anlon Technology Solutions was open for subscription between December 29, 2022 and January 2, 2023 as the company sold its shares in the range of Rs 95-100 apiece to raise Rs 15 crore.
The issue was subscribed a whopping 428.6 times, with allocation for non-institutional bidder subscribed at 883.58 times, whereas quota for retail bidders fetched 447.06 times bids. The portion for qualified institutions was booked 54.53 times.
The lot size for the issue was fixed at 1,200 shares, with each lot costing Rs 1.2 lakh. Each lot at listing amounted to Rs 3 lakh, delivering a profit of Rs 1.8 lakh to the investors who received the allotment of shares.
Incorporated in 2015, Anlon Technology Solutions is primarily engaged in the business of providing engineering services, built on automotive chassis and allied areas, majorly for airports, high-rise buildings, and refineries.
The company provides services to clients spread across the country cities like Mumbai, Bangalore, Thane, Delhi, Hyderabad, Kurnool, Kannur, Jamnagar, Kolkata, Barmer, Ahmedabad, Lucknow, Guwahati, Mangalore and Chennai.
It offers services such as airport rescue and fire fighting vehicles, high rise building rescue, evacuation and fire-fighting equipment, industrial fire engines, runway rubber removal and paint removal machines, runway sweeping and bay cleaning, among others.
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