Premium Plast shares began trading on the NSE SME on October 28, listing at Rs 51.45, a modest 5% premium over the IPO price of Rs 49 per share. The subdued debut fell short of grey market expectations, which had indicated an 18% premium based on a grey market premium (GMP) of Rs 9.
Admittedly, the shares of the company were expected to do better, but the listing price failed to justify high unofficial market expectations. Nevertheless, the listing marked the entrance of the company into the public market through the NSE’s SME Emerge platform despite the dismal performance.
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Source: Moneycontrol
News Desk
