Dixon Technologies Made a Strong Debut on the Exchanges - News by Money Maker

Dixon Technologies (India) Limited have made a strong emergence on the Exchanges by listing at Rs 2,725, a 54 percent premium against its IPO price of Rs 1,766 per share on the NSE and BSE.

The stock respectively hit a high of Rs 2,908 and Rs 2,899 on BSE and NSE after few minutes of its listing. It was trading at Rs 2,837, a 61 percent over its offer price.

Dixon Technologies raised Rs 600 crore though IPO, which has got stellar response from the all group of investors. The issue was over-subscribed 118 times, got bids for 280 million shares against the total issue size of 2.38 million shares.

It is stated that Dixon Technologies would carry on reporting higher revenue and growth in margins owing to its presence in high growth segments, experienced management and growing share of ODM segment. The company has registered return on capital of an enormous 33.3 percent in FY 2017. Moreover, the company has been building up positive cash flow from operations over the last five years and negligible debt post IPO.

Free Stock market tips; The Stock Watch out

The Indian stock market ended the week on a positive note, as the benchmark Nifty50 gained 150 points on weekly basis. Markets have resumed its upswing since it inched closer to all-time high levels. Mid-caps and Small caps outperformed the major indices in the market during the week.

Initial Public Offers (IPO) were the focus of the last week as there were three IPOs hit the markets namely ICICI Lombard General Insurance, Capacit’e Infra-projects and Matrimony.com opened for subscription and were well received. The US dollar weakened against major currencies on Friday, dragged down by a surprising fall in US retail sales in August that once again dimmed hopes for an interest rate increase in December.

To look ahead, Dixon Technologies is set to list in the next week, ICICI Lombard will close in the same week. SBI Life IPO is also set to launch on Sept 20. Further, SBI Life Insurance Company is coming up with an IPO of up to 12 crore shares through an OFS by SBI and BNP Paribas Cardif of up to 8 crore shares and up to 4 crore shares. The IPO opens on 20 Sept and closes on 22 Sept 2017. The IPOs price band has been fixed at Rs 685 -700 per share.