Advance Technoforge shares opened below their issue price on the BSE SME platform on Monday, August 3, marking a muted debut for the forged-components manufacturer.
The stock started trading at ₹94, slipping from the ₹95 issue price, before extending losses to ₹90 during the session.
Advance Technoforge’s IPO began trading on July 27, with the issue standing at just 16% subscribed by midday.
This represents a decline of over 5% from the IPO price, signaling weak initial investor appetite despite a generally positive backdrop in the wider market.
The listing follows a subdued subscription phase for the offering.
Advance Technoforge’s IPO began trading on July 27, with the issue standing at just 16% subscribed by midday.
The company had priced its equity shares at ₹95 each, setting a face value that failed to attract significant premium bidding from retail or institutional investors.