Vegorama Punjabi Angithi made a strong stock market debut on the BSE SME platform on Wednesday, with shares listing at a sharp premium over the IPO price and later extending gains to hit the 5% upper circuit limit.
The company’s shares debuted at Rs 118.10 against the IPO issue price of Rs 77, delivering a listing gain of Rs 41.10 or 53.38% to investors.
Following the strong opening, buying interest continued in the stock, pushing it to the 5% upper circuit level of Rs 124 shortly after listing.
The listing performance came significantly ahead of grey market expectations. Ahead of debut, Vegorama Punjabi Angithi IPO’s grey market premium (GMP) stood at around Rs 9, indicating an expected listing gain of nearly 11.7%. However, the actual listing far exceeded those estimates.
The strong debut indicates robust investor demand for the SME issue despite mixed broader market sentiment. Market participants will now closely track trading volumes, valuation comfort, and the company’s post-listing performance in the coming sessions.
More details regarding subscription figures, issue size, and business outlook are awaited.