• Enlon Technology shares are expected to be listed on SME platform next week Tuesday, Jan 10, 2023
The basis of share allotment for the Public Issue of Enlon Technology has been finalized and the shares, if allotted, will be credited to the demat account on January 9, 2023. The shares of the company are expected to be listed next week on Tuesday, Jan 10, 2023. on the SME platform of the National Stock Exchange (NSE).
The NIFTY SME EMERGE Index is designed to reflect the performance of a portfolio of eligible small and medium enterprises that are listed on the NSE EMERGE platform. As per market observers, Anlon Technology shares are at a premium (GMP) of ₹80 in the gray market today.
The Initial Public Offer (IPO) of Anlon Technology Solutions Limited was open for public subscription from Thursday, December 29, 2022 to Monday, January 2, 2023. The issue was priced at ₹95 to ₹100 per share. The offer received strong subscription of over 400 times.
The Anlon Technology IPO was of up to 15,00,000 equity shares. As per the Red Herring Prospectus (RHP), the issue and net issue of the company will constitute 26.76% and 25.39%, respectively, of the post-issue paid-up equity share capital of the company. Unnikrishnan Nair PM and Beena Unnikrishnan are the promoters of the company.
The Company aims to use the net proceeds from the Initial Share Sale for working capital and general corporate purposes. Incorporated in July 2015, Anlon Technology Solutions Limited is primarily engaged in the business of providing engineering services.
The company provides engineering services for engineering systems built on automotive chassis and allied sectors, primarily for airports, high-rise buildings and refineries. The company also sells spare parts for the performance of engineering services which is an ancillary part of engineering services.
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