Shares of Anawil Wire and Engineering debuted on the NSE SME platform at ₹329.65, marking a 22% premium over its IPO price of ₹270 on August 10. The stock opened positively despite weak market sentiment, signaling strong investor interest in the company's SME IPO, according to livemint.com.
Following the opening, Anawil Wire and Engineering's shares experienced volatility, reaching an intraday high of ₹336.90 and a low of ₹313.20. By 10:20 AM, the stock was trading at ₹318, still up 17.78% from the issue price. Grey market sources indicated that the listing performance aligned with prior expectations based on the last grey market premium for the stock, livemint.com reported.
The positive debut of Anawil Wire and Engineering highlights the continued appetite for SME IPOs in India, even amid broader market challenges. This performance is notable as SME listings typically attract niche investors and can be more volatile compared to mainboard IPOs. The listing premium also reflects confidence in the company’s business prospects and the SME segment's growing role in capital markets, per livemint.com.
Anawil Wire and Engineering's listing on August 10 adds to the expanding portfolio of SME companies accessing public markets in India. The stock’s initial trading range and premium provide a benchmark for future SME IPOs, with the NSE SME platform continuing to facilitate capital raising for smaller firms, according to livemint.com.