Aastha Spintex shares made a muted market debut on Monday, listing at a 4.41% discount to the IPO price of ₹136 per share.
The stock opened at ₹130 on both the National Stock Exchange and the Bombay Stock Exchange, reflecting subdued investor interest in the textile manufacturer's public listing.
The weak opening comes after the company closed its initial public offering on July 1, seeking to raise ₹170 crore through the sale of equity shares.
The price band for the issue was set between ₹125 and ₹136 per share, with the final issue price fixed at the upper end of the range.
The discount listing suggests that demand during the subscription period was insufficient to support the premium valuation.
Aastha Spintex, a player in the technical textiles and spun yarn sector, had aimed to use the proceeds from the IPO to fund working capital requirements and general corporate purposes.