Add-Shop Promotions goes public

The equity shares of Add-Shop Promotions Limited (Scrip Code: 541865) were listed on the exchange, on Monday, post its IPO which was open for subscription from August 21, 2018 to August 30, 2018.

The IPO included 23,96,000 equity shares with a face value of Rs. 10 each, at a price of Rs. 26 per share, aggregating to a total amount of Rs. 6.23 crore. Out of the 23,96,000 shares issued, 1,32,000 equity shares were reserved for subscription by the market maker to the issue. They were offered for Rs. 26 per share, amounting to a total of 0.34 crore. The remaining net issue of 22,64,000 equity shares was offered for cash at a price of Rs. 26 per share, amounting to a total of Rs. 5.89 crore.

Add-Shop was founded on August 15, 2013 to combat the issues of unemployment and poor health pervading the nation. The company engages in activities geared towards supporting women through the creation of employment opportunities. They are also engaged in the practices of organic farming and Ayurveda, and production and distribution of animal feed supplements. The company has plans to venture into the cosmetics, home care and personal care market. It reported total revenue of Rs. 16.37 lakh in the financial year 2018. The profit after tax for the same period was Rs. 16.37 lakh.

At 10:41 am, the stock of Add Shop was trading at Rs. 28.25 per share, up by 8.65 per cent of its issue price, i.e. up by Rs. 2.25 from its issue price.