New Delhi, June 24 — Shares of Appleton Engineers, a leading manufacturer of smart meters and electrical appliances, made a stellar debut in the stock market today, delivering windfall gains to IPO investors. Issued at ₹128 per share under the IPO, Appleton Engineers’ stock was listed on the NSE SME platform with a sharp 90% premium, opening at ₹243.20.
Buoyed by strong buying interest post-listing, the stock quickly hit the upper circuit at ₹255.35 — nearly doubling the investors’ money on its very first day of trade.
IPO Oversubscribed 296 Times
The company’s ₹43.96 crore IPO was open for subscription from June 17 to 19 and received an overwhelming response from all categories of investors. The issue was oversubscribed by a massive 296.34 times overall.
The Qualified Institutional Buyers (QIB) portion was subscribed 132.23 times.
The Non-Institutional Investors (NII) portion saw a record 627.28 times subscription.
The Retail Investor segment was subscribed 248.04 times.
Under the IPO, Appleton Engineers issued 34.34 lakh new equity shares with a face value of ₹10 each. The proceeds will be used for installing new machinery, meeting working capital requirements, and other general corporate purposes.
Robust Financial Performance
According to the company’s prospectus, Appleton Engineers has demonstrated solid financial growth over the last few years.
The company reported a net profit of ₹1.09 crore in FY 2022-23, which grew to ₹8.16 crore in FY 2023-24, and further surged to ₹11.23 crore in FY 2024-25.
During the same period, revenue increased at an impressive compound annual growth rate (CAGR) of over 31%, reaching ₹125.74 crore.
With a strong financial foundation and surging demand for its products, Appleton Engineers’ remarkable market debut signals continued investor confidence in India’s fast-growing electrical and smart appliance sector.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
