Savy Infra’s shares debuted on the NSE SME platform with a 13.75% premium, listing at Rs 136.5 against an issue price of Rs 120, driven by an IPO oversubscribed 114.5 times. The company, an EPC contractor with strong financial growth and a Rs 430 crore order book, will use IPO proceeds for working capital and general corporate purposes.
Mid- and small-cap pressure persists as valuation concerns deepen: Harsha Upadhyaya
Amidst DII buying and FII outflows, mid- and small-cap corrections are driven by valuation and earnings realities, according to Harsha Upadhyaya. He advises caution in