On Wednesday, 3C IT Solutions & Telecoms (India) shares made a disappointing debut on the stock market. Listed at ₹43.01 per share on the BSE SME, the stock opened at a 17.29% discount to its issue price of ₹52 per share.
Market Performance and IPO Details
The listing fell short of market expectations. The grey market premium (GMP) for 3C IT Solutions shares today was ₹0, indicating no premium or discount in the grey market and a trading price equal to the IPO price of ₹52 per share.
IPO Timeline and Pricing
- Subscription Period: June 4 – June 7
- IPO Allotment Finalized: June 10
- Listing Date: June 12
- Price Band: ₹52 per share
The company raised ₹11.44 crore through the SME IPO, which included a fresh issue of 17 lakh equity shares amounting to ₹8.84 crore and an offer for sale (OFS) of 5 lakh shares totaling ₹2.60 crore.
Subscription and Management
The IPO saw strong demand, being subscribed 20.21 times in total. Specifically, it was subscribed 29.79 times in the retail category and 10.63 times in the other category by the end of the subscription period on June 7.
- Book Running Lead Manager: Kreo Capital Pvt Ltd
- IPO Registrar: Skyline Financial Services Pvt Ltd
