S Chand and Company limited stock listed today at both NSE and BSE. As per secondary market it was expecting good listing and would list Rs.90 to Rs.100 higher, but stock got listed at 700Rs only.
Soon after the listing ,stock went down then its issue price and made a low of Rs.658 and then it recovers and maintain to trade above Rs.670 which is its issue price. Finally, stock closed at Rs.676 at NSE and Rs. 675.85 at BSE.
Lot of new investors are joining stock market because of listing gain attraction but this type of IPO would definitely hamper this and disappoint the small investor. however, the S Chand and Company limited management came forward and assure that company will do well in upcoming years.
The S Chand and Company limited IPO came to market during 26th April to 28th April. The IPO got subscribed approx 60 times and the grey market was trading with GMP in range of 90 to 150.
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