Rama Telecom shares open at ₹72, listing at 6% premium; details here

Rama Telecom IPO listing: Rama Telecom share price debuted a tepid premium of nearly 6 per cent on Wednesday, July 2. The SME stock opened at ₹72 against its issue price of ₹68. It rose further to ₹75 but soon erased most gains to trade flat. Around 10:10 AM, Rama Telecom shares were trading at ₹68.40 apiece.

According to market experts, the stock's listing is broadly in line with expectations, as it has been trading at ₹73 in the grey market over the last few days.

Rama Telecom IPO opened for subscription on June 25 and concluded on June 27, with a decent subscription of 1.6 times. The retail portion of the issue was booked nearly two times. Share allotment was finalised on June 30, and allottees received shares on July 1.

It was a fresh issue of nearly 37 lakh shares to raise ₹25 crore, which it intends to use to meet working capital expenses, general corporate purposes, and other offering-related expenses.

Apart from Rama Telecom, HDB Financial, Sambhv Steel Tubes, Suntech Infra Solutions, and Supertech EV also debuted on Indian bourses today.

HDB Financial Services shares were listed at ₹835 on NSE and BSE, a premium of 12.84 per cent from its IPO price of ₹740.

Sambhv Steel Tubes shares were listed at ₹110 on the NSE and ₹110.10 on the BSE, compared to its issue price of ₹82.

Supertech EV was listed on BSE SME at ₹73.60, with a sharp 20 per cent discount against the issue price of ₹92.

Suntech Infra Solutions' share price was listed on the NSE SME with a 27 per cent premium at ₹109.10 against the issue price of ₹86.

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