On Monday, Shivalic Power Control’s share price soared 211% to ₹311 on the NSE SME. The Initial Public Offer, which opened for subscription on Monday, June 24, 2024 and closed on Wednesday, June 26, 2024, generated a significant response being subscribed more than 257 times.
The significant subscription, as well as the high grey market premium, indicated a solid listing and investors expected hefty listing returns.
According to Investorgains.com, Shivalic Power Control’s IPO had a grey market premium (GMP) of ₹225 per share. The same indicated that the grey market was selling Shivalic Power Control’s IPO equity shares for ₹325—a 225% premium over the ₹100 share issuance price.
In the opening trades on the NSE SME, the Shivalic Power Control share price, which opened at ₹311, reached highs of ₹325.90 and lows of ₹297.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.