This firm enters in BSE SME platforms; listed at 20% premium.
The company is an IT enabled service provider, to global clients of IT Solution & Business Services.
A new listing has taken place on BSE SME Platform, and this time it would be Jonjua Overseas Private Limited, which has became the 285th company to enter the exchange. On Monday, the company's stock were listed on 20% premium at Rs 12, compared to issue price of Rs 10. However, on Tuesday, the stock of Jonjua was corrected and trading at an all-time low of Rs 10.83 per piece, down by 5%. BSE has listed this company in 'MT' Group Securities. Jonjua made an initial public offering (IPO) of 13, 00,000 equity shares of Rs 10 per shares, at an issue price of Rs 10, aggregating to Rs 130 lakh.
The company has successfully completed its public issue on February 15, 2019.
Becoming the 285 companies listed on BSE SME Platform, Jonjua raised Rs 2915.25 crores from the market. It's total market capitalisation as on February 25, 2019 stood at Rs 17,845.72 crores. BSE is the market leader in this segment with a market share of 59.62%.
What is Jonjua Overseas?
It is a Punjab based company, whose registered office is at Mohali. The company engages in IT enabled services and are certified service providers to global clients of IT Solution & Business Services.
Services provided by the firm include Start-up consultancy and Outsourcing Services which further includes Import and Export Consultancy, International Project Finance and IPO, Legal and Accounts Outsourcing, Digital Solutions including Website and Software Development and Cross Border Marketing, Brand Building and Business Plan service provider, to their clients.