The shares of Effwa Infra and Research, which was listed at a premium of 90% over the issue price, had a successful debut on the stock market on Friday. Effwa Infra and Research’s share price started trading on the NSE SME at Rs 155.80, compared to its Rs 82 IPO price per share.
Effwa Infra and Research’s IPO listing was consistent with street predictions. Today’s grey market premium for Effwa Infra and Research IPO was Rs 143 per share, which is 174.39% more than the issue price.
In any case, the Effwa Infra and Research IPO listing price was only 90% premium since the NSE had placed a price control cap of 90% on the issue price of SME IPOs during the pre-opening session.
Effwa Infra and Research’s initial public offering (IPO) began on Friday, July 5, and ended on Tuesday, July 9. The listing date is today, July 12, and the IPO allotment was finalized on July 10.
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