Shares of Shreedhar Spinners surged to the upper limit of their price band on the NSE SME platform on Wednesday, marking a strong market reception for the company's initial public offering.
The stock opened at ₹54 per share and quickly extended gains, reflecting robust demand from investors in the small-cap segment.
The positive debut follows the conclusion of the subscription window, which opened on June 23.
The Maharashtra-based textile manufacturer, established in 2020, sought to raise ₹30.68 crore through the offering.
The immediate price action suggests that the allotment process, finalized earlier in the week, generated significant interest among retail and institutional participants.
This listing adds to the recent activity in India's SME IPO market, where several new entrants have seen volatile but often positive debuts.