Affle makes strong debut with 17.5 per cent gains

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Published: August 9, 2019 3:12:36 AM

The initial public offering (IPO) of Affle (India), which was subscribed over 86 times, made a high of Rs 958.3 and a low of Rs 751.05 during Thursday’s trading session on the BSE.

Affle, Affle india, Affle india IPO, initial public offering, BSE, trading season, market newsThe market capitalisation of the company stood at Rs 2,2311.9 crore as on Thursday’s close.

Affle (India) made a strong debut on bourses on Thursday, as it opened at Rs 929.90, against its issue price of Rs 745, clocking a gain of 24.81% on the BSE. The stock finally ended at Rs 875.10 up by 17.46% or Rs 130.10.

The initial public offering (IPO) of Affle (India), which was subscribed over 86 times, made a high of Rs 958.3 and a low of Rs 751.05 during Thursday’s trading session on the BSE. Anuj Khanna Sohum, chairman, MD and CEO, said: “The company has achieved this significant milestone with passion, hard work and invaluable contribution from all the ‘Afflers’ and the key management team that has been together for over a decade.”

The market capitalisation of the company stood at Rs 2,2311.9 crore as on Thursday’s close.

Operating in two business segments, Affle’s consumer and enterprise platforms aim to deliver contextual mobile ads, reduce digital ad frauds and enhance engagements, thereby delivering returns on market spend. The platform is used extensively by B2C companies.

Affle in a press note said as per the data available on the stock exchanges, the public issue worth Rs 459 crore had received bids for Rs 29.21 crore equity shares, against the IPO size of 33.78 lakh shares excluding the anchor investor’s book, which raised approximately Rs 224.55 crore from 15 investors.

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