HMA Agro Industries listing glitch: Stock trades before 10 am on NSE

livemint.com:

₹632; on the NSE, the indicative starting price was ₹625. The stock reached ₹664 at 10 a.m. According to the Moneycontrol report, market participants said that this error has likely caused a notional loss for a number of investors.

For instance, a shareholder who received shares at the issue price of ₹585 and sold them at ₹664—a 13 percent premium—would have lost out on the chance due to the listing time error. They further stated that the notional profit might likewise be reversed. Some dealers said that individuals who were aware of the error may have taken advantage of the potential for arbitrage.

The stock was still trading at ₹615 on the BSE when it reached ₹660 levels on the NSE. In order to clarify, Moneycontrol in its report said that it has contacted NSE. The frozen buffalo meat exporter HMA Agro Industries received bids that were 1.62 times larger than its issue size.