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.
Also Read | SJS Enterprises IPO opens: Key things to know
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.
Angel Broking had a 'neutral' call on the SJS Enterprises IPO while ICICI Direct had recommended subscribing to the issue.