Enfuse Solutions will finalize the basis of IPO share allotment on March 20 and initiate refunds to non-allottees on March 21. Shares of the company are scheduled to be listed on the NSE SME platform on Friday, March 22, 2024.
Enfuse Solutions Limited IPO – entirely a fresh issue of 23.38 lakh shares – opened for subscription on March 15.
The Enfuse Solutions public offer, a book build issue of ₹22.44 crore, will close for subscription on March 19, 2024.
On Day 1, Enfuse Solutions Limited IPO received a bumper response from investors, with an overall bidding of 8.36 times. Retail investors pour in bids for 1,03,70,400 shares against 7,76,400 shares on offer for them. Non-institutional buyers booked their portion 5.27 times, offering bids for 17,59,200 shares against 3,33,600 shares set aside for them. Qualified institutional buyers (QIBs) placed 1.93 times bids over the quota reserved for them. QIBs offered bids for 8,55,600 shares over 4,44,000 shares on offer for them.
The company raised ₹6.37 crore in the anchor round, allotting 6,63,600 shares to investors on March 14, 2024.
Enfuse Solutions IPO price band and lot size:
The company has set the price band for the IPO at ₹91 to ₹96 per share, with a minimum lot size of 1,200 shares. Retail investors must invest a minimum of ₹1,15,200, while high net worth individuals (HNIs) are required to purchase at least 2 lots, amounting to an investment of ₹230,400.
Enfuse Solutions allotment and listing dates
Enfuse Solutions will finalize the basis of share allotment on Wednesday, March 20. Refunds for non-allottees will be initiated on Thursday, March 21, and successful bidders will receive shares in their demat accounts on the same day. The company’s shares are scheduled to be listed on the NSE SME platform on Friday, March 22, 2024.
Investors can check their IPO allotment status on the registrar’s website or on the NSE portal once the allotment is finalized.
Enfuse Solutions IPO registrar
Hem Securities is the book-running lead manager of the Enfuse Solutions IPO, with Bigshare Services Pvt Ltd serving as the registrar. Hem Finlease will act as the market maker for the public offer.
Imran Yasin Ansari, Mohammedk Lalmohammed Shaikh, Rahul Mahendra Gandhi, Zaynulabedin Mohmadbhai Mira, and Farheen Imran Ansari are the promoters of the company. Post IPO, the promoters’ stake in the company will be reduced to 73.58% from the existing 100%.
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About Enfuse Solutions
Established in 2017, Enfuse Solutions is known for providing integrated digital solutions across various sectors. Its services include data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, and edtech and technology solutions.
Enfuse Solutions operates in four domains, focusing on data management and analytics, e-commerce and digital services, machine learning, and AI. The company has delivery centres in Thane and Vikhroli, Maharashtra, and generates revenue from both domestic operations in India and export services to countries like the US, Ireland, Netherlands, and Canada.
As of November 30, 2023, Enfuse Solutions employed 433 individuals across various roles.
