Teja Engineering Industries Ltd has launched its initial public offering on the National Stock Exchange's SME platform, opening for subscription today and remaining open until July 2, 2026.
The company is seeking to raise capital through the equity issue, marking its entry into the public markets.
Market observers report that shares are currently trading at par in the grey market, indicating neutral sentiment among early participants.
Unlike some recent SME listings that have seen significant premiums, Teja Engineering's grey market premium (GMP) has not yet detached from the issue price, suggesting cautious investor interest in the initial phase.
The IPO launch comes amid a mixed backdrop for India's SME equity market.
Recent listings have shown varied performance; Twinkle Papers Ltd saw its shares trade at a premium in the grey market upon launch, while Leapfrog Engineering Services experienced volatility, hitting the 5% upper circuit on the Bombay Stock Exchange's SME platform after a weak debut.