Mumbai, Dec 15 || Riddhi Display Equipment shares made a weak debut on the Indian stock market on Monday, disappointing investors.
The stock was listed on the BSE SME platform at Rs 80 per share, which was a discount of 20 per cent compared to its issue price of Rs 100.
The muted listing came despite expectations of a flat debut in line with the issue price. In the grey market, Riddhi Display’s IPO was trading at a premium of zero, indicating a likely listing around Rs 100.
However, the stock failed to meet those expectations and opened significantly lower.
The Riddhi Display SME IPO received a moderate response from investors during the three-day bidding period.
The issue was subscribed 4.91 times overall. Retail investors showed strong interest, with their portion subscribed nearly eight times.
The non-institutional investor segment was subscribed 1.92 times, while qualified institutional buyers placed bids worth 2.19 times their allotted quota.