Crazy Snacks shares surged 10% on their first day of trading on the BSE SME platform, closing at ₹46.20 after listing at ₹44.
The debut price represented a 4.7% premium over the IPO’s upper price band of ₹42, signaling stronger institutional and retail demand than anticipated in the final hours of subscription.
The rally came despite muted grey market premiums (GMP) in the days leading up to the listing, which had suggested limited upside potential.
The discrepancy between pre-listing sentiment and actual trading performance highlights the volatility often seen in small-cap IPOs on the SME platform, where liquidity can shift rapidly once trading begins.
The initial public offering was oversubscribed 1.20 times overall, with the retail category seeing a 1.24 times subscription.
The company had opened the issue on June 25 with a price band of ₹39 to ₹42 per share, comprising a fresh issue of 60 lakh shares.