AceVector lists at ₹28.30, 11.6% below IPO price
In short
AceVector, the parent of Snapdeal, listed on the BSE at ₹28.30. That was 11.6% below its IPO price of ₹32.
This matters because the stock opened weak even after the IPO was subscribed 5.07 times overall. The report does not say how the shares will trade later.
What the reporting says
AceVector, Snapdeal’s parent, made a weak stock market debut and listed at ₹28.30 on the BSE, an 11.6% discount to its IPO price, according to the summary. Another report says the IPO had opened from September 25 to September 29 and was subscribed 5.07 times overall, with strong interest from retail, QIB and NII investors. The immediate question is whether the listing weakness changes trading sentiment.
Why it matters
AceVector, the parent of Snapdeal, listed on the BSE at ₹28.30, which was 11.6% below the IPO price of ₹32. The IPO was open from September 25 to September 29 and was subscribed 5.07 times overall, with retail subscription at 4.83 times, QIBs at 3.42 times excluding anchors, and NIIs at 8.53 times. The reporting does not state why the listing disappointed.