Shining Tools IPO Listing: Shares of Shining Tools Limited made a soft debut on the BSE SME platform today, Friday, November 14, opening nearly 9% lower than the issue price. The stock listed at ₹104 per share, compared to its issue price of ₹114, reflecting an 8.8% discount at the time of listing.
The Shining Tools IPO, which was open for subscription from November 7 to November 11, received a moderate response from investors, with the issue subscribed 1.15 times by the close of bidding.
The company had fixed the IPO price band at ₹114 per share with a face value of ₹10, and investors could bid for a minimum of 1,200 shares per lot and in multiples thereafter.
Despite a fair subscription and reasonable valuations, the stock’s subdued listing indicates weak investor sentiment in the broader SME segment amid market volatility.
More updates on post-listing price movement and investor response are awaited.
Summary:
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Listing Exchange: BSE SME
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Listing Price: ₹104 per share
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Issue Price: ₹114 per share
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Discount: 8.8%
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Subscription: 1.15x
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IPO Open: November 7
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IPO Close: November 11
