SMR Jewels shares made a weak debut in the Indian stock market today amid a broader selloff in domestic equities. SMR Jewels IPO listing date was June 8, and the stock is listed on the BSE SME platform.
SMR Jewels shares were listed at ₹102.95 apiece on BSE SME, a discount of 19.57% to the issue price of ₹128 per share. The stock dropped to an intraday low of ₹102.40 apiece.
Buying interest in SMR Jewels shares emerged at lower levels and the stock gained nearly 5% from its listing price to touch a high of ₹108.05 apiece. However, despite the recovery, SMR Jewels share price was still trading below its IPO price.
SMR Jewels IPO listing came amid a broader Indian stock market crash amid selloff in global equities. The benchmark BSE Sensex tanked over 600 points, while the NSE Nifty 50 declined 0.70% to trading around 23,200 level.
Ahead of the SMR Jewels IPO listing today, the trends in the grey market premium (GMP) indicated a muted debut of shares. SMR Jewels IPO GMP today was ₹0 per share. This indicated a flat listing.
SMR Jewels IPO Details
The public issue of the jewellery designer SMR Jewels Ltd opened on May 26 and closed on June 3. The IPO allotment was finalized on June 4, and SMR Jewels IPO listing date was June 8. SMR Jewels shares are listed on the BSE SME.
SMR Jewels IPO is an SME IPO and the company raised ₹63.74 crore from the book-building issue, which was a combination of fresh issue of 40 lakh shares worth ₹51.20 crores and an offer for sale (OFS) of 10 lakh shares aggregating to ₹12.54 crore. SMR Jewels IPO price band was ₹128 per share.
SMR Jewels IPO was subscribed 1.12 times in total. The Retail Investors category was booked 36%, and the Non-institutional Investors (NII) segment was subscribed 100%. The Qualified Institutional Buyers (QIB) category received 5.41 times subscription.
Wealth Mine Networks is the book running lead manager and Purva Sharegistry (India) is the SMR Jewels IPO registrar.
At 10:50 AM, SMR Jewels share price was trading at ₹108.05 apiece on the BSE SME, up by 4.95% from its listing price, and down by 15.59% from its issue price.
