IPOs witnessed flat listing in SME board

Amidst all the positive listings in the IPO market. Today, the listing of two companies remained lacklustre.

On the SME board, Tridhya Tech and Synoptics Technologies got listed and their listing remained flat.

Tridhya Tech was listed on NSE SME at Rs 42 per share. Its issue price was also Rs 42. The company raised Rs 26.41 crore from IPO which will be used for debt repayment. It witnessed flat listing despite huge interest by investors as it got subscribed more than 72 times.

Another company that got listed on NSE SME today is Synoptics Technologies. The share got listed at Rs 238 per share while its issue price was Rs 237. After listing the share has hit its 5% lower circuit at Rs 226.

Both these companies are from the IT sector. However, it seems that drone is one sector that is attracting all the momentum. After the stupendous listing of ideaForge, another company related to the drone Industry, Drone Destination is open for bidding and the response is simply phenomenal. The IPO got subscribed more than 118 times and its GMP is Rs 52 per share while its issue price is Rs 65 on the upper band. This implies the listing at a premium of 80%.

On the main board, Utkarsh Small Finance Bank is open for subscription and it is subscribed close to 10 times. The company is looking to raise Rs 500 crore and its price band is Rs 23 – Rs 25 per share and its GMP is Rs 17 per share. This implies listing at a premium of 68%. Prior to this ideaForge and Cyient DLM got listed in the market and both of them enjoyed hefty premium listing.