Yaap Digital opens Rs 80.11 crore IPO, closes on February 27

Yaap Digital will open its Rs 80.11 crore Initial Public Offering on Wednesday. The issue comprises 55.25 lakh equity shares and will close on February 27, as per media reports.

As of 10:20 AM on the first day of bidding, the IPO was subscribed one time. The subscription was driven by institutional investors, with the qualified Institutional Buyers (QIB) portion subscribed 3.5 times. Retail and non-institutional investor categories remained unsubscribed at that time.

The company has set a price band of Rs 138 to Rs 145 per share. The shares are proposed to be listed on the NSE SME platform on March 5.

Ahead of the IPO, investor Mukul Agrawal and India Ahead Venture Fund, led by Sunil Singhania, acquired minority stakes in the company. Both investors purchased 720,400 equity shares each, representing an equity stake of about 4.68% apiece.

Yaap Digital provides digital marketing services to brands focused on online engagement and performance-based campaigns.