Aspire & Innovative Advertising Ltd Share Price – NSE

Trading, Small Cap

Aspire & Innovative Advertising will hold a meeting of the Board of Directors of the Company on 30 May 2024

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The scrip was listed at Rs 56.50, a premium of 4.63% compared with the initial public offer (IPO) price. The stock is currently stuck at an upper limit of 5% over its listing price.

The counter hit a high of Rs 59.30 and a low of Rs 56.25. About 14.14 lakh shares of the company changed hands at the counter.

Aspire & Innovative Advertising's IPO was subscribed 10.14 times. The issue opened for bidding on 26 March 2024 and it closed on 28 March 2024. The price band of the IPO was fixed at Rs 51 to Rs 54 per share.

The IPO comprised fresh issue of 40,68,000 equity shares. The promoter and promoter shareholding diluted to 72.35% from 98.84% pre-IPO.

The company intends to utilize the net proceeds to meet working capital requirements, To finance the cost of establishing new warehouses and general corporate purpose.

Ahead of the IPO, Aspire & Innovative Advertising on 22 March 2024 raised Rs 6.24 crore from anchor investors. The board allotted 11.56 lakh shares at Rs 54 per share to 5 anchor investors.

Aspire & Innovative Advertising is engaged in the business of trading a wide range of consumer durables, including kitchen appliances, home appliances, white goods, mobile phones and accessories, solar products, and more, from multiple renowned brands such as Bajaj, Prestige, Vivo, Samsung, Crompton, Whirlpool, Hindware, Havells, and many others. The company offers a range of products at different price points to meet diverse customer requirements across India. It focuses on delivering products mainly to rural and semi-urban areas. The company also earns revenue from displaying advertisements on its website. As of 30 November 2023, the company has 49 permanent full-time employees, including managerial personnel.

The company recorded revenue from operations of Rs 176.58 crore and net profit of Rs 3.93 crore for the period as on 30 September 2023.

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