Shares of Simca Advertising listed on the NSE SME platform on Friday at a 14.75% discount to the IPO price. The stock opened at Rs 156 apiece against the issue price of Rs 183. The debut was weaker than unlisted market expectations, which had hinted at a flat listing. Ahead of the opening, the grey market premium (GMP) had indicated only a marginal upside despite strong subscription demand.
Simca Advertising's Rs 58 crore IPO was entirely a fresh issue of 31.71 lakh shares. The public issue was subscribed to 80.88 times overall, led by strong interest from qualified institutional buyers and non-institutional investors.
