Shares of TNA Solutions hit the 5% lower circuit on the BSE SME platform on October 9, shortly after making a weak debut on the stock exchanges. The stock fell to Rs 53.20, down 5% from its listing price of Rs 56 and nearly 24% below its initial public offering (IPO) price of Rs 70.
TNA Solutions shares had listed at a discount of 20% to the issue price, reflecting a weak investor response on debut. Following the decline, the company's market capitalisation stood at around Rs 108.57 crore.
The stock's debut was weaker than indicated by the grey market premium (GMP). TNA Solutions shares were signalling a flat listing on the morning of October 9, according to IPO tracking platform InvestorGain.
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GMP is an unofficial indicator of investor sentiment ahead of listing and does not guarantee the actual listing price or subsequent stock performance.