Vinyas Innovative Technologies made a stellar debut on the NSE on Friday, October 6, after its shares listed at a premium of 100 percent at Rs 330 apiece against an issue price of Rs 165. The scrip scaled an intraday high and low of Rs 346.50 and Rs 313.50, respectively.

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The SME IPO, which opened for subscription on September 27 and closed on October 3, raised around Rs 54.66 crore via its public offer.

The IPO of the engineering and electronics manufacturing services company consisted of a fresh issue of 3,312,800 equity share; there is no offer for sale (OFS) component. Narendra Narayanan, Meera Narendra, and Narendra Sumukh are the company's promoters.

The capital raised from the issue will be utilised for meeting working capital requirements.

Sarthi Capital Advisors Private Limited acted as the book-running lead manager to the issue, while Skyline Financial Services Private Ltd was the registrar.

For fiscal 2022-23, the company's revenue stood at Rs 234.53 crore, compared to Rs 207.74 crore in the previous year. Its net profit came in at Rs 7.34 crore, up from Rs 1 crore in FY22.

Established in 2001, Vinyas Innovative Tech offers design, engineering, and electronics manufacturing services to global OEMs and ODMs in the electronic industry. Its electronic manufacturing services are provided as Build to Print (B2P) and Build to Specification (B2S).