The listing fell short of market expectations.
Shares of Shri Tirupati Balaji Agro Trading Company (STBATCL) listed at Rs 92.90 on the NSE on Thursday, up 11.93 per cent from its issue price of Rs 83. Similarly, the stock listed at Rs 90 on the BSE, an 8.43 per cent premium. The listing fell short of market expectations.
GMP was Rs 27-30 per share
According to the news, before its listing, the grey market premium (GMP) on Shri Tirupati Balaji Agro Trading Company shares was Rs 27-30 per share. However, when the issue closed for bidding, it was around Rs 40. Shri Tirupati Balaji Agro Trading Company’s IPO was open for bidding between September 5 and September 9. It offered its shares in a fixed price band of Rs 78-83 per share with a lot size of 180 shares. The company raised a total of Rs 169.65 crore from its IPO, which included fresh share sale of Rs 122.43 crore and an offer for sale (OFS) of 46.90 lakh shares.
Latest Business News
