Shares of EverestIMS Technologies made a strong debut on the BSE SME platform on October 8, listing at Rs 126 per share.
The stock opened at a premium of Rs 41, or 48.23 percent, over its initial public offering (IPO) price of Rs 85 per share.
However, the listing gain was lower than the grey market premium (GMP) indicated ahead of the debut. The shares were commanding a GMP of around 74 percent on October 7, according to InvestorGain.
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The GMP is an unofficial indicator of investor sentiment in the unlisted market and is not regulated by stock exchanges. It can change before listing, and the actual listing price may differ from the price implied by the GMP.