Esconet Technologies News Today

Esconet Technologies IPO received a stellar response from investors with an overall subscription of over 471 times at close. The overwhelming response was led by NII and retail investors whose categories were booked 800 and 500 times, respectively. The company is engaged in the business of meeting a wide range of IT requirements such as high-performance supercomputing solutions, data centre facilities, encompassing storage servers, network security, virtualization, and data protection.

NMDC, PNB, Tata Chemicals, Vedanta, BHEL and Manappuram Finance may enter the ban list as these stocks are near the 95 percent MWPL

Each lot of Esconet Technologies cost Rs 1,34,400 at the offer price and turned to Rs 4,64,000 on debut, delivering a solid listing gains of Rs 3,29,600 to the investors who received the allotment.

Esconet Technologies IPO: The stock opened at Rs 290 on the NSE SME platform against the issue price of Rs 84

Investors can check the status of Esconet Technologies IPO allotment by logging in to the official website of the registrar, which is Skyline Financial Services in this case.

The issue closed on February 20, Tuesday. The issue was at a fixed price of Rs 77 per equity share. The equity shares will be listed on the NSE Emerge platform.

Esconet Tech IPO Day 3: The price band was fixed in the range of Rs 80 to Rs 84 apiece for a lot size of 1,600 equity shares. The company plans to raise around Rs 28.22 crore (at upper band) from the offering and aims to be listed with NSE Emerge.

Experts say the positive momentum is expected to continue in the coming week, too, along with intermittent consolidation and correction.

Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd. - A Leading Mid-Market Investment Bank, said that the Indian IPO market will remain robust in CY2024.

Overall, analysts maintain a positive yet cautious stance as Nifty 50 is set to retest its record high level, but there could be bouts of intra-day volatility. A possible breakout attempt for Nifty 50 above 22,150 could lead to an uptrend to inch towards 22,500+.