Vrundavan Plantation shares list at Re 1 discount on BSE
stock market. The SME stock listed at ₹107 per equity share, which is Re 1 below the issue price of ₹108 per share. This means the BSE SME stock listed at Re 1 discount opening session of the SME IPO.
However, the SME stock nosedived further and hit intraday low of ₹101.65 apiece, locking-in 20 per cent lower circuit within few seconds of share listing. Notably, the BSE SME stock listed below its issue price despite strong stock market sentiments. Indian stock market today opened upside as Nifty 50 index Vrundavan Plantation IPO was proposed for listiong on BSE SME platform got subscribed over 18.50 times in three days of bidding from 30th October 2023 to 1st November 2023.
Vrundavan Plantation IPO got subscribed to the tune of 25.50 times in retail category whereas it got subscribed over 11.50 times in NII category. The SME issue was offered at a fixed price of ₹108 per equity share. The public issue was aimed at raising ₹15.29 crore through issuance of 1,416,000 fresh shares.
The issue was proposed for listing on BSE SME platform. The BSE SME issue comprised 1,200 company shares in one lot. This means, minimum investment of an allottee in this SME issue is ₹1,29,600 ( ₹108 x 1200).
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