|
Getting your Trinity Audio player ready...
|
Ashish Kacholia, a well-known figure in the world of investing, acquired a substantial stake in Saakshi Medtech & Panels on October 9th.
Saakshi Medtech & Panels, a recent entrant on the stock market, grabbed the spotlight with its remarkable debut on Dalal Street on October 3rd. The company’s shares were initially listed at ₹146 per share on the NSE SME platform, marking a significant 50.5% premium over the IPO price of ₹97. Ace investor Ashish Kacholia’s recent purchase of 6,22,800 shares of Saakshi Medtech & Panels via a block deal has sparked curiosity among investors and market enthusiasts. In this article, we’ll delve into the details of Kacholia’s investment and explore Saakshi Medtech & Panels’ journey in simple terms.
Ashish Kacholia’s Strategic Move:
Ashish Kacholia bought the shares at an average price of ₹167.01 each through open market transactions. This strategic investment amounted to a total of ₹10.4 crore.
Hem Finlease, on the other hand, sold 6,20,400 shares of the company at an average price of ₹167 per share.
Impressive Stock Performance:
Saakshi Medtech & Panels’ shares saw significant growth, ending the day at ₹177.05 apiece on the NSE SME platform. Notably, the stock is up more than 21% from its listing price and a remarkable 82% from its IPO price.
A Successful IPO:
Saakshi Medtech & Panels conducted a highly successful IPO, raising ₹45.16 crore. The IPO, which was open from September 25th to September 27th, exclusively offered fresh shares totaling 46.56 lakh at a price range of ₹92-97 per share.
Strong Investor Response:
Investors showed immense interest in Saakshi Medtech’s IPO, with a subscription rate of 91.65 times. The retail category saw a subscription of 75.88 times, while the Qualified Institutional Buyers’ (QIB) category and the Non-Institutional Investors (NII) category witnessed subscriptions of 37.35 times and 200.78 times, respectively.
Understanding Saakshi Medtech & Panels:
Saakshi Medtech & Panels specializes in manufacturing electrical control panels and cabinets, which include microcontrollers, programmable logic controllers, and SCADA systems. These products find applications in elevators, air compressors, renewable energy industries, and electric vehicle charging stations, among others.
Continued Growth:
On the following trading day, Saakshi Medtech & Panels’ shares opened at the upper circuit, trading at ₹185.9 apiece on the NSE SME platform.
Conclusion:
Ashish Kacholia’s significant investment in Saakshi Medtech & Panels reflects his confidence in the company’s potential for growth. The company’s stellar stock performance and robust response to its IPO indicate that it has captured the attention of investors. As Saakshi Medtech & Panels continues its journey in the stock market, it is poised to be an exciting company to watch for potential investors and market enthusiasts alike.
