Blockbuster debut! Robokidz Eduventures SME shares hit upper circuit after 90% IPO listing gains

As per the latest business developments, Robokidz Eduventures shares hit the upper circuit limit in Monday's market session, shortly after making their market debut at a 90 percent premium over the offering price.

Shares of Robokidz Eduventures were quoted at Rs 211.45 per share on the BSE, locked at the 5 percent upper circuit, the highest permissible trading limit for the session.

The shares were listed at Rs 201.40, representing a 90 percent premium over the offering price.

The firm, which offers technology-enabled learning and skill development solutions for K-12 students in robotics, artificial intelligence (AI), coding, electronics and STEM, had attracted firm demand for its initial public offering (IPO), which closed with 769.48 times subscription on September 23.

The firm received bids for 161.96 crore equity shares during the three-day bidding period, against an offering size of 21.04 lakh shares through 4.12 lakh applications.

The total value of bids stood at Rs 17,168 crore, significantly exceeding the firm's potential market capitalisation of Rs 115 crore at the upper end of the price range of Rs 100-106 per share.

Robokidz Eduventures provides technology-enabled learning and skill development solutions in robotics, AI, coding, electronics and STEM (science, technology, engineering and mathematics) to schools and educational institutions through educational laboratory setup projects, subscription-based learning programmes and other educational services.