Subam Papers had a disappointing start in the stock market on Tuesday, with shares listed at ₹142.00 each on the BSE SME platform. This price reflects a 6.58% drop from its initial public offering (IPO) price of ₹152 per share.
The weak debut was below expectations, especially since the grey market had hinted at a positive opening. Before the listing, the grey market premium (GMP) for Subam Papers shares was ₹12, suggesting that investors expected a rise of nearly 8%.
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Details About Subam Papers IPO:
- The IPO opened for subscriptions on September 30 and closed on October 3.
- Allotments were announced on October 4, and shares began trading today, October 8.
- The IPO price range was set between ₹144 and ₹152 per share, raising ₹93.70 crore from the sale of 61.65 lakh shares.
The IPO received strong interest, being subscribed 92.93 times overall. The breakdown was 48.97 times for retail investors, 57.18 times for qualified institutional buyers (QIBs), and an impressive 243.16 times for non-institutional investors (NIIs).
Gretex Corporate Services Limited acted as the lead manager for the IPO, while Bigshare Services Pvt Ltd served as the registrar for the issue.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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