On October 9, E-Factor Experiences shares marked a robust entry into the market, opening at a remarkable 53.33% premium over their IPO price. The stock debuted at Rs 75, significantly higher than the issue price of Rs 115, on the NSE SME platform. The grey market premium (GMP) before the listing had been at Rs 32, suggesting a listing price of Rs 107.
The public offering had witnessed an overwhelming response, with a subscription rate of 73.14 times. High-net-worth individuals (HNI) were particularly active, subscribing 168.26 times, while retail investors showed strong interest with a subscription rate of 47.78 times. Qualified institutional buyers (QIB) also participated actively, subscribing 46.09 times. The IPO successfully raised Rs 25.92 crore, consisting entirely of fresh issue shares, with no offer-for-sale component.
Prior to the IPO, the company secured Rs 7.38 crore from anchor investors, including Rajasthan Global Securities Private Limited, India-Ahead Venture Fund, Meru Investment Fund PCC-Cell I, and Zinnia Global Fund PCC Cell – Dewcap Fund.
The SME IPO had a price band of Rs 71-75 per share and was open for subscription from September 25 to October 3. The book-running lead manager for the issue was Hem Securities, Maashitla Securities acted as the registrar, and Hem Finlease served as the market maker. The company’s promoters are Jai Thakore, Samit Garg, Aruna Garg, and Manika Garg. Before the IPO, the promoters and the promoter group held a 99.99% stake, which reduced to 73.59% post-issue.
E-Factor Experiences intends to utilize the funds raised from the IPO for investment in its subsidiary, fulfilling working capital requirements, repaying certain borrowings, and allocating the remaining amount for general corporate purposes.
E-Factor Experiences is involved in providing event experiences, event services, technology-based multimedia light & sound installations, and specialized turnkey event assignments, including wedding management and private & social event solutions to consumers and communities.