- Skytech Infinite Platform shares debuted at Rs 74, a 3.9% discount to issue price
- Shares hit 5% lower circuit at Rs 70.30, down 8.7% from the Rs 77 issue price
- IPO was subscribed 2.04 times with strong retail investor participation
Skytech Infinite Platform share price hit 5% lower circuit after making a weak debut in the Indian stock market on Friday. Skytech Infinite Platform IPO listing date was August 21, and the shares have been listed on NSE SME.
Skytech Infinite shares were listed at Rs 74 apiece, a discount of 3.9% to the issue price of Rs 77 per share. After the debut, the SME stock hit 5% lower circuit of Rs 70.30 apiece.
At this low level, Skytech Infinite share price was down by 8.70% from its issue price.
Skytech Infinite Platform IPO listing was weaker than the Street estimates, as indicated by the grey market premium (GMP).
Ahead of the debut, Skytech Infinite Platform IPO GMP today signalled listing at over 1% premium.
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Skytech Infinite Platform IPO Details
The SME IPO was open for subscription from August 14 to August 18, while the IPO allotment date was August 19. Skytech Infinite Platform IPO listing date was today, August 21, and the shares have been listed on NSE SME.
Skytech Infinite Platform IPO price band was set at Rs 73 to Rs 77 per share. rhe company raised Rs 22.68 crore from the book-building issue, which was entirely a fresh issue of 29.45 lakh shares.
Skytech Infinite IPO was subscribed by a stellar 2.04 times in total, NSE data showed. The public issue was booked 3.36 times in the Retail Individual Investors category, and 72% in the Non-Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIB) category received 1.06 times subscription.
Finshore Management Services Ltd. is the book running lead manager and Integrated Registry Management Services is the Skytech Infinite IPO registrar.
At 10:45 AM, Skytech Infinite Platform share price was still at Rs 70.30 apiece on NSE SME, down 5% from its listing price, and down 8.70% from its issue price.
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