Earkart shares list flat at IPO price of Rs 135 on BSE SME platform – News Air Insight

Earkart shares made a flat debut on the BSE SME platform on Friday, listing at Rs 135.5 apiece against the IPO price of Rs 135. The Rs 49.26 crore SME issue had failed to attract much traction in the unlisted market, with the grey market premium (GMP) hovering at 0% ahead of the debut. The stock’s listing was broadly in line with these muted GMP expectations.

Subscription details

The IPO, which opened on September 25 and closed on September 29, was subscribed 1.28 times overall. The non-institutional investor (NII) portion drew stronger demand at 1.63 times, while the retail segment saw muted interest at just 0.35 times subscription.

The issue comprised a fresh issue of Rs 44.75 crore and an offer for sale (OFS) of Rs 4.51 crore. Proceeds will be used for working capital, expansion of the company’s Shop-in-Shop (SIS) model, and other corporate purposes.

About the company

Earkart is a HealthTech platform specializing in hearing aids and assistive devices. Its product range includes multiple types of modern hearing aids—Receiver-in-Canal (RIC), Invisible (IIC), Behind-the-Ear (BTE), In-the-Ear (ITE), and Completely-in-Canal (CIC).

The company also distributes foldable walkers and educational material for the physically challenged. It is a registered supplier to the government’s ALIMCO scheme under the Ministry of Social Justice and Empowerment.

Financials

Earkart posted robust growth in FY25, with revenue up 35% to Rs 43.2 crore and net profit more than doubling to Rs 6.9 crore, compared with Rs 3.1 crore a year earlier. EBITDA rose to Rs 9.8 crore.

With a flat GMP and lukewarm retail demand, Earkart’s listing may open without fireworks, making post-listing performance crucial to investor sentiment.

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