Stellar Debut: Affle (India) Limited Lists At 25 Pc Premium
Shares of Affle (India) Limited on Thursday made a strong debut on the bourses, opening at Rs 929.90, as against its issue price of Rs 745 per share on the Bombay Stock Exchange (BSE).
Affle (India) Limited, the Initial Public Offering (IPO) of which was subscribed over 86 times, made a high of Rs 958.3 and a low of Rs 751.05 during Thursday’s trading session on the BSE.
The stock opened at Rs 926, around 25 per cent higher against the issue price on the National Stock Exchange (NSE) and touched a high and a low of Rs 958.7 and Rs 750 respectively.
Between the NSE and BSE, Affle India received 2,92,237,100 cumulative bids.
Anuj Khanna Sohum, Chairman, Managing Director and Chief Executive Officer (CEO) of Affle (India) Limited said “The company has achieved this significant milestone with passion, hard work and invaluable contribution from all the ‘Afflers’ and the key management team that has been together for over a decade.”
“We see this as a greater responsibility towards our valued shareholders. This is to reiterate our commitment towards now even bigger and stronger family of investors and well-wishers,” Sohum said.
In his address to the gathering, Ashish Chauhan, Managing Director and CEO of BSE Ltd said “The listing of Affle (India) Limited will encourage and pave the way for similar technology companies to access public markets.”
“The BSE has been a pioneer in creating platforms for new companies to begin their journey in public markets. This Platform makes it easier for tech companies, across growth stages, to access the public markets.” he added.
As per the data available on the stock exchanges, the public issue worth Rs 459 crore had received bids for Rs 29.21 crore equity shares, against the IPO size of 33.78 lakh shares excluding the anchor investor’s book, which raised approximately Rs 224.55 crore from 15 investors, including leading names like Aberdeen Investment Trust PLC, Franklin Templeton, Eastspring Investments, Malabar India, Goldman Sachs, Reliance Capital and L&T Mutual Fund.
Operating in two business segments, Affle’s consumer and enterprise platforms aim to deliver contextual mobile ads, reduce digital ad frauds and enhance engagements, thereby delivering returns on market spend.
The platform is used extensively by B2C companies across sectors like e-commerce, fin- technology, telecom, media, retail and FMCG companies, both directly and indirectly through their advertising agencies.