Holmarc Opto-Mechatronics makes strong debut

Shares of Holmarc Opto-Mechatronics hit an upper limit of 5% at Rs 68.50 on the NSE, a premium of 71.25% compared with the issue price of Rs 40.

The scrip was listed at Rs 65.25, a premium of 63.13% compared with the issue price. The scrip hit a high of Rs 68.50 and a low of Rs 65. About 13.20 lakh shares of the company changed hands at the counter.

Holmarc Opto-Mechatronics' initial share issue was subscribed 80.30 times, indicating strong investor interest. The IPO, priced at Rs 40 per share, opened on 15 September and closed on 20 September 2023. The IPO consisted of a fresh issue of 28,50,000 shares, resulting in the dilution of the promoter shareholding from 87.50% pre-IPO to 62.69%. The company plans to utilize the net proceeds for capital expenditure, working capital requirements, issue expenses, and general corporate purposes.

Established in 1993, Holmarc Opto-Mechatronics manufactures scientific and engineering instruments for research, industry, and education. Their product range includes imaging instruments, measuring instruments, spectroscopy, analytical instruments, lab instruments, and more. In the period ended 31 March 2023, the company reported revenue from operations of Rs 29.03 crore and a net profit of Rs 3.56 crore.

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