WOL 3D India listing: Shares debut at a 20% premium, hit upper circuit; check details

WOL 3D India listing: Shares of 3D printing solutions provider WOL 3D India got listed at a premium of 20 premium at ₹180.05, against the issue price of ₹150, and rose further to hit their 5 per cent upper price band of ₹189.05 apiece.

The initial public offering (IPO) of WOL 3D India opened for subscription on Monday, September 23, and concluded on Wednesday, September 25. The SME IPO combined a fresh issue of 14.52 lakh share shares and an offer for sale (OFS) of 2.52 lakh shares.

The company aimed to raise ₹25.56 crore from the issue, with ₹21.78 crore from the fresh issue of shares, which it will use to pay borrowings and meet working capital requirements.

The issue witnessed an overall subscription of nearly 374 times, with the retail portion subscribed over 368 times and the segment reserved for non-institutional buyers subscribed nearly 749 times.

The company provides 3D printing solutions in various sectors. Its profit after tax (PAT) has seen a significant jump in the last two financial years. For FY22, FY23 and FY24, the company's PAT stood at ₹84.42 lakh, ₹2.41 crore and ₹5 crore, respectively.

Also Read: WOL 3D India IPO Day 3: GMP, subscription status, price band, other details of NSE SME IPO

Meanwhile, equity market benchmark Nifty 50 fell almost a per cent in morning trade amid rising tensions in the Middle East. Moreover, experts find this market ripe for consolidation due to lack of fresh triggers and premium valuation.

"The market is likely to move into a consolidation phase in the near term. One significant factor that is influencing foreign portfolios is the outperformance of the Chinese stocks which is reflected in the massive surge in the Hang Seng index by around 18 per cent in September," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, observed.

"This surge has been triggered by hopes of a revival in the Chinese economy in response to the monetary and fiscal stimulus announced by the Chinese authorities. The cheap valuations of Chinese stocks are keeping the momentum intact. This can prove to be a tactical trade which can be sustained for some more time. This means FIIs may continue selling in India and move more money to better-performing markets. FII selling is unlikely to impact the Indian market significantly since the massive domestic money can easily absorb whatever the FIIs sell. Investors can use dips to buy quality large cap stocks that are fairly valued."

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