Gold Dreams on Hold: Manoj Jewellers IPO Opens Without a Spark

Manoj Jewellers Ltd's highly-awaited IPO opened on the BSE SME platform today, but the listing did not sparkle, reflecting muted cues from the grey market. The shares opened at ₹53.95, a minor discount to the issue price of ₹54, and dropped sharply 5% to reach ₹51.26 in initial trade, leaving investors expecting a premium disappointed.

 

Key Highlights:

Manoj Jewellers' listing on debut highlights the significance of market sentiment and subscription power in the performance of an IPO listing.

 

Sources: Business Standard, Economic Times, Moneycontrol, Groww