Studds Accessories shares list at over 3% discount to IPO price in weak market debut
Studds Accessories made a muted debut on Dalal Street on Friday, listing at a discount to its issue price despite strong investor demand and positive grey market trends.
The stock debuted at ₹565 on the NSE, down 3.42% from its ₹585 issue price, while on the BSE, it opened at ₹570, a 2.56% discount, News.Az reports, citing foreign media.
This was well below expectations, as the grey market premium (GMP) before listing indicated an 8% upside, suggesting a debut near ₹630.
The ₹455 crore Studds Accessories IPO had received robust subscription, being booked 73.25 times overall, according to BSE data.
Qualified Institutional Buyers (QIBs): 159.99×
Non-Institutional Investors (NIIs): 76.99×
Retail Investors: 22.09×
The IPO, priced in the range of ₹557–₹585 per share, valued the company at about ₹2,300 crore at the upper end.
However, since the issue was entirely an Offer for Sale (OFS) of 77.86 lakh shares, the company itself will not receive any proceeds. The funds will go directly to selling shareholders.
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