Shares of M.R.Maniveni Foods made a weak debut on the BSE SME platform on Monday, listing at ₹42.55, which is an 18.17% discount to its IPO price of ₹52, according to livemint.com. The stock price fell ₹9.45 below the offer price at the time of listing.
The initial public offering (IPO) of M.R.Maniveni Foods was priced at ₹52 per share, but on debut, the shares opened significantly lower. After the initial drop, the stock recovered slightly, touching a day’s peak of ₹44.66, which was still below the IPO price by nearly 14%. This performance reflects investor caution in the SME segment on the BSE platform.
The discount on listing is notable as IPOs typically aim to list at or above the offer price to reward early investors. M.R.Maniveni Foods’ listing at a discount highlights challenges faced by smaller companies in attracting investor enthusiasm amid market volatility. The SME platform often sees such price fluctuations due to lower liquidity and investor base compared to the main exchanges.
M.R.Maniveni Foods’ share price performance on June 1 marks a critical moment for the company’s market perception. The stock’s recovery to ₹44.66 after listing indicates some buying interest, but the price remains below the IPO level, underscoring the cautious sentiment among investors on the BSE SME segment.