New Delhi, June 4 (H.S.): Shares of NR Vandana Textile, dealing in sarees, suits, and dress materials under the Vandana and Tany brands, disappointed IPO investors with a weak listing. Issued at ₹45, the shares entered the NSE's SME platform unchanged but quickly faced selling pressure, dropping to the lower circuit level of ₹42.75, resulting in a first-day loss of 5 percent for IPO investors. This performance was in stark contrast to gray market expectations, where shares were anticipated to list with at least a 20 percent premium following a robust overall subscription of 101 times.

The reserved portion for Qualified Institutional Buyers (QIB) was subscribed 36.54 times, while Non-Institutional Investors (NII) subscribed 126.70 times. Despite a strong pre-IPO response and gray market premium of ₹9, the disappointing listing led to significant investor discontent. The IPO raised ₹27.89 crore and was open for subscription between May 28 and 30.

Hindusthan Samachar / Jun Sarkar