Newjaisa Technologies’ IPO Launches with 51% Premium on NSE SME

Newjaisa Technologies IPO Launches Successfully

Newjaisa Technologies, a company focused on refurbished electronics, successfully launched its initial public offering (IPO) on the National Stock Exchange’s Small and Medium Enterprises platform. The firm issued 84.96 lakh fresh shares, which began trading at ₹71 per share, reflecting a notable 51% premium over its initial issue price of ₹47. This strong market entry generated ₹39.93 crore (approximately $5.4 million) intended for various corporate purposes, including the expansion of refurbishment facilities and technological upgrades.

Prior to the IPO, Newjaisa attracted ₹11.36 crore (around $1.5 million) from anchor investors, including notable funds. This strong backing indicates a high degree of confidence in the company’s business model and growth potential. Reports indicate that Newjaisa maintains a balance sheet with more cash than debt, which is typically seen as a strong financial indicator and likely contributed to investor confidence.

The IPO was oversubscribed by 6.85 times, demonstrating significant investor interest in Newjaisa Technologies and its innovative approach. The company specializes in sourcing used electronics, refurbishing them, and selling directly to customers.

The successful IPO and high demand highlight the growing market for refurbished electronics. Armed with new capital, Newjaisa Technologies is well-positioned to enhance its refurbishment capabilities and technological infrastructure to cater to rising demand in this sector.