Ahmedabad based Shaival Reality lists on NSE SME platform

Mumbai

NSE’s platform for small and medium enterprises today got its 8th company with listing of the Ahmedabad-based logistic service and construction firm Shaival Reality.

Shares of Shaival Reality closed at Rs 100.50 apiece on the NSE today.

Overall, this is the ninth listing on NSE’s SME platform – Emerge.

Veto Switchgears And Cables Ltd switched to NSE main board leaving eight companies, including Shaival Reality, on the SME platform now.

Shaival Reality entered the capital market with an IPO of 5.28 lakh equity shares of face value of Rs 10 aggregating to Rs 5.28 crore, NSE said in a statement.

The issue opened for subscription on September 15 and closed on September 18 and was oversubscribed by 1.20 times.

The SME platform helps entrepreneurs to raise capital for their growth and innovation and helps the companies to unlock value for its early investors to find an efficient exit.

Companies with a post-issue paid up capital of less than Rs 25 crore with a track record of 3 years, positive cash accruals for 2 years and positive net worth are eligible for listing on the SME platform.

PTI