R.K. Fashion Accessories shares made a weak debut on the NSE SME platform on October 12, listing at Rs 80 apiece against the IPO price of Rs 82. The stock debuted at a discount of 2.44 percent, falling short of the listing gains indicated by the grey market premium (GMP).
According to Investorgain, the IPO's grey market premium indicated a potential listing gain of nearly 2 percent on the morning of October 12.
Investors must note that the grey market premiums are unofficial and based on market speculation. They do not guarantee listing gains or reflect the company's fundamentals.
Following the listing, the company's market price stood at Rs 124.13 crore.
The RK Fashion Accessories' Rs 35-crore initial public offering (IPO) was open for subscription from October 5 to October 7. The issue was priced in the range of Rs 77-82 per share and received an overall subscription of 2.70 times.