The scrip was listed at Rs 170, a premium of 51.79% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 178.50 and a low of Rs 161.50. About 11.14 lakh shares of the company changed hands at the counter. Vdeal System's IPO was subscribed 67.57 times. The issue opened for bidding on 27 August 2024 and it closed on 29 August 2024. The price of the IPO was set at Rs 112 per share. The IPO comprised fresh issue of 16,14,000 equity shares. The promoter and promoter group shareholding diluted to 66.96% from 99.97% pre-issue. The company intends to utilize the net proceeds to meet working capital requirement, to make prepayment or repayment of all or a portion of certain secured and unsecured loans availed by the company, to meet offer related expenses and general corporate purpose. Vdeal System is a leading provider of Smart Electrical Control Panels and Automation Solutions. They specialize in products like Smart Low Voltage (LV) panels, Smart Medium Voltage (MV) panels, Smart Variable Frequency Drive (VFD) panels, and Smart Programmable Logic Controller (PLC) panels, as well as busducts. With in-house expertise and global partnerships, the company offers high-quality solutions that meet international standards. It is developing AI and ML-driven solutions that integrate IoT technology into a cloud-based SaaS model. As on 20 August 2024, the company has 65 employees. The company recorded revenue from operations of Rs 26.22 crore and net profit of Rs 3.11 crore for the period as on 31 March 2024. Powered by Capital Market - Live