Stocks of Sameera Agro & Infra decline 5% after a flat listing on the NSE SME market

 Stocks of Sameera Agro & Infra decline 5% after a flat listing on the NSE SME market

Stocks of Sameera Agro & Infra decline 5% after a flat listing on the NSE SME market

Within minutes, Sameera Agro & Infra's shares dropped 5% to Rs 17 from its opening price of Rs 180 on the NSE SME.

Reaction to Sameera Agro and Infra's IPO was slower than that of other SME IPOs.

On January 1, Sameera Agro & Infra's shares listed flat at the IPO price, making a lackluster beginning. On the NSE SME platform, the stock began at Rs 180 but quickly dropped 5% to Rs 171.

The unimpressive start was anticipated since Sameera Agro and Infra were trading at a flat rate on the gray market, an unofficial stock exchange where shares are traded before to IPO allotment and continue to trade until the day of listing. The gray market premium, or GMP, is what most investors look at to estimate the listing price.

When compared to previous SME IPOs, the problem was met with a sluggish reaction. The retail segment was booked four times, and the offer was subscribed to 2.9 times.

Sameera Agro's IPO began accepting subscriptions on December 21 and ended on December 27. The firm raised Rs 62.64 crore via the IPO, which was solely a new issuance of 34.8 lakh shares, at a price of Rs 180 per share.

The net proceeds will be used to general corporate costs and the building of additional multiplexes to satisfy the company's current working capital requirements. Shivalenka Satya Murthy and Kameshwari The company's promoters are Satya Murthy Shivalenka.

The market maker for the securities offering was SVCM, the office of registration was Kfin Technologies, whereas the book-running lead manager was First Overseas Capital.

Sameera Agro & Infra designs and builds commercial and residential buildings, townships, apartment buildings, multi-story buildings, gated communities, landscapes, flyovers, bridges, subways, roadways, industrial parks, and other related projects.