The shares of Affle India made an impressive debut on Thursday with its shares listing at Rs 929.90, at a premium of 24.82 per cent over its issue price of Rs 745 per share. Affle India shares hit a high of Rs 958.30 per share on BSE in the early trade today. Last week, the 459 crore-IPO of global technology firm got a stellar response which was subscribed 86.48 times last week. The IPO comprised a fresh sale of shares worth Rs 90 core and a sale of about 4.95 million shares by Affle Holdings. The qualified institutional buyers or QIB portion was subscribed 55.31 times, non-institutional investors 198.69 times and retail investors’ portion was subscribed 10.94 times. The issue had received around 2,96,561 applications across all segments. The proceeds from the fresh issue will be utilised towards inorganic acquisitions and working capital.
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Founded in 2006 by Anuj Khanna Sohum and Anuj Kumar, Affle India aims to enhance returns on marketing spend by delivering contextual mobile ads and reducing digital ad fraud. Affle India has two business segments – consumer platform and enterprise Platform. The consumer platform helps in new consumer conversions through relevant mobile advertising, retargeting existing consumers to complete transactions for e-commerce companies, an online to an offline platform that converts online engagement into in-store walk-ins. The company operates through seven offices worldwide. It has 236 employees as of May 2019 with its offices in Gurugram, Mumbai, Jakarta, Singapore and Kuala Lumpur.
Today, the headline indices Sensex and Nifty opened higher tracking global cues. At 11:20 AM the Sensex was trading at a level of 36,729.42, up 38.92 points from the previous close, the Nifty50 was trading at 10,826.25 level, up 6.75 points from the previous settlement. On BSE, the major gainers are HCL, Bharti Airtel and Tata Motors, while the leading losers are Tata Steel, IndusInd Bank and Axis Bank.