Shringar House of Mangalsutra IPO listing: Shares debut at 14% premium on BSE, NSE

Shringar House of Mangalsutra IPO listing: Shares of Shringar House of Mangalsutra made a decent debut on Indian bourses on Wednesday, September 17, amid positive market sentiment. Shringar House of Mangalsutra shares opened at ₹187.70 on the BSE, a premium of 13.76 per cent on the issue price of ₹165. On the NSE, the stock was listed at ₹188.50, up 14.2 per cent from its issue price.

The stock further extended its gains to hit a high of ₹191 on the BSE and the NSE.

The stock's listing was largely in line with expectations, as the grey market expected the stock to list at a premium of 15 per cent.

According to investorgain.com, Shringar House of Mangalsutra's last grey market premium (GMP) was ₹26.

Considering the upper end of the IPO price band and the GMP, the estimated listing price of Shringar House of Mangalsutra share price was ₹191 apiece, 15.76 per cent higher than the IPO price of ₹165.

(This is a developing story. Please check back for fresh updates.)

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