OBSC Perfection made a muted market debut today as its shares were listed at ₹110 each on NSE SME, indicating a premium of 10% over the issue price of ₹100. Post listing, the stock further jumped to reach ₹115.50 level. The company proposes to use the net proceeds from the issue for several key purposes. It aims to fund capital expenditure requirements for purchasing machinery at its existing manufacturing facilities and to meet the company’s working capital needs and for general corporate purposes.
The company is a precision metal component manufacturer offering a diverse range of high-quality engineered parts tailored to end-user industries across multiple geographies. It primarily serves top original equipment manufacturers (OEMs), who in turn supply critical components to major automotive manufacturers in India.
In the non-automotive sector, the company caters to manufacturers within the defense, marine, and telecommunications infrastructure industries. Although its core expertise lies in the automotive sector, supplying OEMs, the company is actively expanding its presence in the defense, marine, and telecommunications infrastructure sectors, leveraging its precision engineering capabilities.
Shares of small and medium enterprise (SME) OBSC Perfection Limited made a decent trading debut on Tuesday, October 29, listing at a 10% premium on the NSE Emerge platform.
OBSC Perfection stock opened the session at ₹110 per share, compared to its initial public offering (IPO) price of ₹100 apiece. Within minutes of the session’s opening, the share price rose another 5% to hit the upper circuit limit at ₹115.5 apiece.
As the minimum bid quantity to apply for the OBSC Perfection IPO was 1,200 shares, successful bidders who were allotted shares in the primary issue were sitting on listing gains of ₹12,000 (₹10 x 1,200) per lot after the stock started trading on exchanges.
As many as 21.25 lakh company shares were traded on the NSE SME platform, with a total trading value reaching ₹23.75 crore. OBSC Perfection’s market capitalization stood at ₹282.43 crore.
