Shree Karni Fabcom shares hit 5% upper circuit after listing at 14.5% premium

livemint.com:

Stock market today: Despite weakness in the Indian stock market, Shree Karni Fabcom share price today listed on the NSE EME Emerge platform at ₹260 apiece, delivering around 14.53 percent listing gain to the share allottees against the issue price of ₹220 to ₹227 per equity share. However, the NSE SME stock didn't stop here only. The SME stock further extended its listing gains and went on to touch an intraday high of ₹273 apiece, locking-in a 5 percent upper circuit within a few minutes of the share listing.

Shares of the SME company were offered at a price band of ₹20 to ₹227 per equity share and the public issue was open for bidding from 6th to 11th March 2024. In four days of bidding, the SME IPO received a healthy subscription demand. As per the Shree Karni Fabcom IPO subscription status, the book build issue was subscribed over 112 times which was reflected in today's share listing as well.

A bidder was able to apply for this NSE SME IPO in lots. One lot of the Shree Karni Fabcom IPO comprised 600 company shares, which means minimum investment of a luckey allottee in the retail segment would be ₹1,36,200 ( ₹227 x 600). The SME IPO worth ₹42.49 crore was purely a fresh issue.