Shares of Shree Balaji Mala Textiles Ltd hit the 5% lower circuit on the BSE SME platform on Wednesday, July 29, shortly after listing at a significant premium.
The textile manufacturer debuted at ₹133 per share, representing a 90% gain over the issue price of ₹70, but selling pressure quickly erased the upside as investors booked profits.
Despite the strong subscription numbers and the substantial listing gain, the immediate post-listing trading session was dominated by short-term traders looking to lock in returns on the 90% premium.
The stock closed at the lower circuit limit of ₹126.35, marking a sharp reversal from the opening sentiment.
The listing follows a three-day subscription period that ended on July 24, during which the SME IPO drew robust interest from retail and institutional investors.
Allotment results were announced on July 27, setting the stage for the Wednesday debut.
Despite the strong subscription numbers and the substantial listing gain, the immediate post-listing trading session was dominated by short-term traders looking to lock in returns on the 90% premium.