Esprit Stones will hold a meeting of the Board of Directors of the Company on 13 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 93.15, a premium of 7.07% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price. The counter hit a high of Rs 97.80 and a low of Rs 93.15. About 13.86 lakh shares of the company changed hands at the counter. Esprit Stones' IPO was subscribed 124.84 times. The issue opened for bidding on 26 July 2024 and it closed on 30 July 2024. The price band of the IPO was set at Rs 82 to Rs 87 per share. The equity shares will list on NSE's SME platform. The IPO comprised fresh issue of 57,95,200 shares. The company intends to utilize the net proceeds for funding working capital requirements of company, investment in subsidiary, Haique Stones Private (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings, working capital requirement and for general corporate purposes. Ahead of the IPO, Esprit Stones on 25 July 2024, raised Rs 14.03 crore from anchor investors. The board allotted 16.12 lakh shares at Rs 87 per share to 5 anchor investor. Espirit Stones is a company specializing in the production of engineered quartz and marble surfaces. They own a subsidiary that manufactures a key component for their products, unsaturated polyester resin. With a workforce of 295 employees, the company focuses on producing high-quality engineered stone products. The company recorded revenue from operations of Rs 272.89 crore and net profit of Rs 10.31 crore for the period as on 31 March 2024. Powered by Capital Market - Live