Earkart shares today for debut. Check GMP for the list

Earkart will state its shares on the BSE SME platform on 3 October after the closure of its RS 49.26 Crore Initial Public Offer. However, prior to the debut, the IPO does not show any activity on the gray market, with the GMP at 0% on the issue price of RS 135 per share. This suggests that the shares can see a flat list unless the market sentiment improves.

Subscription details

The IPO, which was opened on September 25 and closed on September 29, was subscribed to a total of 1.28 times. The part of the non-institutional investor (NII) raised a stronger question 1.63 times, while the retail segment saw filled interest on just 0.35 times subscription.

The issue consisted of a new issue of RS 44.75 Crore and an offer for sale (OFS) from RS 4.51 Crore. The proceeds will be used for working capital, expansion of the shop-in-shop (SIS) model of the company and other business purposes.

About the company

Earkart is a HealthTech platform that specializes in hearing aids and supporting devices. The product range includes several types of modern hearing aids-receiver-in-canal (RIC), Invisible (IIC), rear-ear (BTE), in-the-ear (ite) and full-in-channel (CIC).

The company also distributes folding hikers and educational material for the physically challenged. It is a registered supplier of the Alimco schedule of the government under the Ministry of Social Justice and Empowerment.

Financial

Earkart placed a robust growth in FY25, with a turnover of 35% to RS 43.2 Crore and the net profit that is more than doubling to RS 6.9 Crore, compared to RS 3.1 Crore a year earlier. EBITDA rose to RS 9.8 Crore.

With a flat GMP and lukewarm retail question, the list of Earkart can open without fireworks, making post-listing performance crucial for the sentiment of investors.

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