The share price of S A Tech Software, which made a spectacular debut on the stock exchange on Friday due to high demand for its initial public offering (IPO), hit the 5% upper circuit. The NSE SME listed S A Tech Software India shares for Rs 112.10 apiece, which is 90% more than the share issue price of Rs 59.
Following their listing, S A Tech Software shares saw rises, but they were locked at a 5% upper circuit price of Rs 117.70 per share on the NSE SME.
The S A Tech Software India IPO listing met Street expectations, with the GMP today, or grey market premium, of roughly 135%.
S A Tech Software India shares, however, were listed at a 90% premium since the NSE imposed a price control cap on the issue price of SME IPOs during the pre-opening session.
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