Shivalic Power Control share jumps 221% on market debut on NSE SME platform

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, 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.

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