Trom Industries’ share had a strong start in the Indian stock market on Thursday, with the shares listing at a significant premium. Trom Industries shares were listed on the NSE SME for Rs 218.50 apiece, a 90% premium on the issue price of Rs 115 per share.
Trom Industries’ IPO listing was consistent with street projections, given that the company’s grey market premium (GMP) before to listing was 134%. However, the company’ IPO listing was only at a 90% premium because of the NSE’s price control cap on the SME IPO opening price.
Following the listing, shares of Trom Industries continued to rise and were locked at Rs 229.40 per share.
Trom Industries Ltd.’s initial public offering (IPO) opened on July 25 and ended on July 29. The IPO listing date is today, August 1, and the IPO allotment ended on July 30. Shares of Trom Industries are listed on NSE Emerge.
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