Bumper listing: SME firm Prevest Denpro spikes 125%

NEW DELHI: Prevest Denpro, a manufacturer of dental care supplies, had a dream listing on BSE SME platform on Monday. The counter jumped 125 per cent over the issue price on the first tick, hitting the 5 per cent upper circuit as well.

Prevest Denpro became the 346th company to get listed on the BSE SME Platform. It traded at Rs 189.55 as of 12.35 pm.

Prevest Denpro came out with an initial public offering of 31,68,000 equity shares of face value of Rs 10 for Rs 84 per equity share, aggregating to Rs 26.61 crore. The company successfully completed its public issue on September 17.


The company will use the proceeds for its IPO mostly for expanding its business, the draft red herring prospectus said.

Prevest Denpro Limited is a Jammu-based company engaged in the business of manufacturing and marketing dental materials for diagnosing, treating and preventing dental conditions as well as improving the aesthetics of the human smile. The company's product portfolio covers a wide spectrum of materials for endodontics, prosthodontics, orthodontics, periodontics, restorative dentistry, aesthetic dentistry and laboratory consumables.

So far, 114 companies listed on the SME platform have migrated to the main board. The 345 companies listed on BSE SME platform have raised Rs 3,634.29 crore from the market and their total market capitalization as on September 24, 2021 stood at Rs 36,419.82 crore.