03 Jun , 2025 By : Debdeep Gupta
Nikita Papers made a weak market debut on June 6, with its shares being listed at Rs 90 per share on NSE SME platform. This marks a discount of nearly 13.5 percent over the SME IPO price of Rs 104 apiece.
Notably, the listing discount was in sharp contrast to the grey market estimates. Ahead of listing, the unlisted shares of the company were trading flat with zero percent premium to IPO price at Rs 104 apiece, according to data on Investorgain.
The Rs 67.54 crore IPO of the New Delhi-based company was subscribed 1.4 times within its three days of bidding, receiving bids for 78.87 lakh shares as against the offer size of 56.25 shares from May 27 to May 29.
The company intends to utilise IPO proceeds for setting up of power plant, working capital requirement, and general corporate purposes. The price band for the offer was Rs 95-104 per share.
Along with Nikita Papers, two other stocks made their debut on the SME platforms today. Blue Water Logistics shares were listed on NSE SME platform at Rs 141 apiece, marking a premium of over 4 percent over the IPO price of Rs 135 apiece. The IPO had seen strong investor interest within the three days of public bidding, being subscribed 8.76 times. Investors have bought 1.89 crore equity shares of the Hyderabad-based logistics and supply chain solutions company in the last three days, compared to the offer size of 21.65 lakh shares via 7,046 applications.
The company raised Rs 40.5 crore via initial public offering of 30 lakh shares at a price of Rs 135 per share. These IPO proceeds will be utilised for purchase of vehicles and its body building, working capital requirements, and general corporate purposes.
Astonea Labs shares meanwhile debuted on the BSE SME platform at Rs 137.45 apiece. This marks a premium of over 1.8 percent over the SME IPO price of Rs 135 apiece. The public issue of the pharmaceutical and cosmetic products maker was subscribed 2.44 times. The company approached capital markets to mobilise Rs 37.67 crore via maiden public issue of 27.9 lakh shares at the upper end of price band of Rs 128-135 per share.
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