Mukul Agrawal-backed Yaap Digital IPO listed today on the NSE SME platform, debuting at a 12% discount to its issue price. Despite strong subscription from institutional investors, grey market signals hinted at a flat listing. The ₹80.11 crore issue will fund acquisitions, working capital, and an AI-led content hub.
Yaap Digital, a digital content and marketing services agency backed by investor Mukul Agrawal, made its market debut on the NSE SME platform. The IPO, priced at ₹138–145 per share, raised ₹80.11 crore through a fresh issue. While the offering saw healthy demand from Qualified Institutional Buyers (QIBs), retail participation was moderate.
The listing, however, was tepid, with shares opening at a 12% discount to the issue price. Analysts attribute this to cautious sentiment reflected in the Grey Market Premium (GMP), which remained flat ahead of debut.
Key Highlights
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IPO Size: ₹80.11 crore fresh issue.
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Price Band: ₹138–145 per share; lot size of 1,000 shares.
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Subscription: 4.25 times overall, driven by QIB demand.
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Listing Performance: Shares debuted at a 12% discount.
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Fund Utilization: Acquisition of GoZoop, working capital, and AI-led content hub expansion.
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Investor Sentiment: GMP indicated muted enthusiasm despite institutional interest.
Sources: The Economic Times, Analytics Insight, Chittorgarh