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SJS Enterprises makes weak market debut; stock falls over 4% after listing

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On the BSE, the stock was listed at Rs 540, a 0.4 percent discount to the issue price of Rs 542.

SJS Enterprises makes weak market debut; stock falls over 4% after listing
Shares of SJS Enterprises, the manufacturer of decorative aesthetics products, witnessed a muted debut on the bourses today.
On the BSE, the stock was listed at Rs 540, a 0.4 percent discount to the issue price of Rs 542. And on the NSE, the scrip was listed at Rs 542, equivalent to the issue price.
At 10:15 am, the stock was trading over 4 percent lower on the BSE at Rs 518. On the NSE, the scrip was down 2 percent at Rs 531.65.
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The SJS Enterprises IPO received a lacklustre response as the issue was subscribed 1.59 times on the last day, as per reports. The issue had opened on November 1 and closed on November 3.
The company raised Rs 240 crore from anchor investors and had fixed a price band of Rs 531-542 per share. The IPO market lot size was 27 shares.
SJS is a leading player in the country's decorative aesthetics industry, offering a wide range of products. It is a design-to-delivery aesthetics solutions provider.
Apart from catering to the requirements for the auto and consumer durables industries, SJS also caters to the medical devices, farm equipment and sanitaryware businesses.
 
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