Ashish Kacholia buys 6.2 lakh shares of Saakshi Medtech & Panels a week after listing

Ace investor Ashish Kacholia has bought 6,22,800 shares of recently listed SME company Saakshi Medtech & Panels Ltd via block deal.

Kacholia bought the SME shares at an average ₹167.01 each on October 9 via open market transactions, as per the data available. The total deal value aggregates to ₹10.4 crore.

Meanwhile, Hem Finlease sold 6,20,400 shares of the company at an average price of ₹167 per share.

Saakshi Medtech & Panels shares ended at 5% upper circuit at ₹177.05 apiece on NSE SME Monday.

Saakshi Medtech had made a stellar Dalal Street debut on October 3. The company’s shares were listed at ₹146 apiece on NSE SME, a premium of 50.5% to the issue price of ₹97.

Read here: Saakshi Medtech shares make stellar debut, stock lists at 50.5% premium at ₹146 on NSE SME

The stock is up over 21% from its listing price and more than 82% from its IPO price.

Saakshi Medtech & Panels raised ₹45.16 crore through its initial public offering (IPO), which opened on September 25 and closed on September 27.

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Saakshi Medtech IPO was entirely a fresh issue of 46.56 lakh shares at a price band of ₹92-97 per share.

Also Read: Ashish Kacholia portfolio: Multibagger stock rises 700% in three and half years. Do you own?

The IPO received strong response from investors as it was subscribed 91.65 times. The public issue was subscribed 75.88 times in the retail category, 37.35 times in the Qualified Institutional Buyers’ (QIB) category and 200.78 times in the Non-Institutional Investors (NII) category.

Saakshi Medtech and Panels is a manufacturer of electrical control panels and cabinets, comprising microcontrollers, programmable logic controllers, and SCADA systems, used in elevators, air compressors, the renewal energy industry, electrical vehicle charging stations, among others.

On Tuesday, Saakshi Medtech shares opened at 5% upper circuit at ₹185.9 apiece on the NSE SME.

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