Vrundavan Plantation shares hit 20% lower after listing at Rs 1 discount on BSE SME

Breaking News: The Vrundavan Plantation shares have not hit a 20% lower circuit after the listing at Re 1 discount on the Bombay Stock Exchange SME platform. The official shares have been listed on the BSE SME platform at Rs. 107 per piece, Re 1 lower than its issue price which was Rs. 108 per equity share. Today is very strong sentiment in the Indian stock market at the opening bell. So the Vrundavan Platform shares have been officially listed on the BSE SME platform at the time of the special pre-opening session on 6th November 2023, Monday. To learn everything read this article till the end.

Vrundavan Plantation

On  Monday, the Vrundavan Plantation shares were listed on the BSE SME platform as today there was a special pre-open session. As per the reports, the SME Stock has been officially listed at Rs. 107 per equity share as it is Re 1 which is below its issue price of Rs. 108 per share. So it has been reported that the BSE SME stock has now been listed at the Re 1 discount opening session of the SME IPO. It has been recorded that in the shares of SMEs, there has been some downfall which has been recorded and after some time of the share listing almost 20% got locked in the lower circuit in just a few seconds.

The Vrundavan Plantation IPO was officially proposed for the listing at Bombay Stock Exchange (BSE) SME platform got subscribed more than 18.50 times in the three days of its bidding from 30th October 2023 to 1st November 2023. The company IPO got subscribed to the tune of 25.50 times in the category of retail market as it got subscribed by more than 11.50 times in the NII category. The SME was officially issued at the fixed price of Rs. 108 per equity share. Then the public issue was officially aimed at it got raised at rs. 15.29 crore as of the issuance of 1,416,000 new shares.

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According to the source, the BSE SME issued has compromised a total of 1,200 company shares just in one lot. So by focusing on this, it has showcased that the minimum investment of the allotted in the SME issue if of Rs. 1,29,600. Interactive Financial Services (IFS) Limited has appointed the book running which is leading the manager of the BSE SME issue whereas on the other hand, Kfin Technologies Ltd has appointed the registrar of the Vrundavan Plantation IPO. This time the BSE SME stock has been listed below the issue price as it has very great stock market sentiments in the market.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging