Two SME companies Rappid Valves (India) and WOL 3D India made their debuts at the bourses on Monday and the companies delivered a decent listing pop to the investors despite the sharp selloff in the broader markets amid the fears of rate hikes by Bank of Japan. Shares of Rappid Valves (India) were listed at Rs 312 on the emerge platform on NSE, suggesting a premium of 40.54 per cent, against the offer price of Rs 222.
The company had raised a total of Rs 30.41 crore via its IPO, which was a fresh sale of 13.70 lakh equity shares.
Incorporated in 2002, Rappid Valves (India) engages in the manufacturing of Valve solutions. It offers various valves, including ball, gate, globe, butterfly, check, double block, filter, and marine valves. These valves are made using ferrous and non-ferrous materials and come in sizes ranging from 15mm to 600mm to meet diverse requirements.
On the other hand, shares of WOL 3D India kicked off their maiden trading session on BSE SME platform at Rs 180.05, a premium of 20.03 per cent over the issue price of 150 apiece.
The company raised a total of Rs 25.56 crore via IPO, which included a fresh sale of 17,04,000 equity shares. Incorporated in November 1988, WOL 3D India provides 3D Printing solutions, which enable easier prototyping and finding applications in various sectors, such as manufacturing, education, engineering, architecture, interior design, fashion design, product design, medical, and dental.
Both the IPOs ran for bidding between Septembe.