Liqvd Digital India’s ₹39-crore IPO closed with a 5.08x subscription, driven largely by non-institutional investors. Meanwhile, Axiom Gas Engineering listed on the NSE Emerge at ₹54.75, a marginal premium over its ₹54 issue price. Additionally, the NSE has issued a strong warning against unregistered 'dabba' trading platforms operating via Telegram.
Liqvd Digital IPO Demand
The initial public offering for digital marketing firm Liqvd Digital India wrapped up its subscription period with a 5.08 times demand. The non-institutional investor category led the interest, with a subscription rate of 21.02 times, while retail investors participated more cautiously at 1.43 times. The company sought to raise ₹39 crore through this IPO, which is slated for listing on the BSE SME platform. The varied subscription levels reflect specific appetite among larger private investors compared to smaller retail participants.
Axiom Gas Market Debut
Axiom Gas Engineering saw a muted start on its debut day on the NSE Emerge platform. The stock opened at ₹54.75 per share, representing a premium of less than 2% over its issue price of ₹54. This performance follows a relatively tepid IPO response, where the issue was subscribed 1.37 times. The company raised ₹50.75 crore through a fresh issue of approximately 94 lakh shares. The management plans to deploy these funds toward expanding its auto LPG dispensing network and reducing existing debt, a move that shareholders will track to monitor future financial health.
NSE Warning on Illegal Trading
In a separate move to protect market integrity, the National Stock Exchange issued a sharp warning regarding the rise of unauthorized 'dabba' or off-market trading schemes. The exchange explicitly identified two entities—'Dabba Traders Since 2016' and 'Blue Rock Trading Platform'—for operating via Telegram without necessary legal registrations. The NSE has already filed formal criminal complaints against the operators of these channels.
Investors are advised that participation in such schemes circumvents established securities laws and offers no protection against fraud. Trading through unregistered platforms carries significant financial risk, as these entities are not governed by SEBI or exchange regulations. The NSE reminded the public that engaging in or facilitating these illegal activities can lead to severe legal consequences, including fines of up to ₹25 crore and imprisonment of up to 10 years under the Securities Contracts (Regulation) Act. Market participants are encouraged to verify the registration status of any platform before transferring funds for trading purposes.