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Strong debut: Affle India begins Day 1 at Rs 926, up 24% over issue price

August 08
15:33 2019

Affle India, whose initial public offering (IPO) was subscribed 86.49 times, had a strong listing on August 8. The stock opened at Rs 926 on the National Stock Exchange, 24 percent higher than its issue price of Rs 745.

On the BSE, it opened with a premium of 24.8 percent at Rs 929.90. It was trading at Rs 945.95, up 26.97 percent at 1002 hours IST.

In terms of volumes, it traded with 31.17 lakh shares on the NSE and 2.67 lakh shares on BSE.

The issue, which opened during July 29-31, consisted of a fresh issue of Rs 90 crore and an offer for sale of 49,53,020 equity shares. The price range for the public offer was at Rs 740-745 per share.

Affle India is a decade-old global technology company with a proprietary consumer intelligence platform that delivers consumer acquisitions, engagements and transactions through relevant mobile advertising.

The platform is used by (B2C) companies across industries, including e-commerce, fin-tech, telecom, media, retail and FMCG companies, both directly and indirectly through their advertising agencies.

Microsoft has a 6.48 percent stake in the Singapore-based Affle Holdings.

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