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SME IPOs: The National Stock Exchange (NSE), on Thursday, July 4, 2024, decided to put an overall cap of up to 90 per cent over the issue price for SME initial public offers (IPOs) during the pre-open session. SME stands for small and medium enterprises.
The move, NSE said, aims to standardise the opening price discovery across exchanges during the special pre-open session for IPO for the SME platform.
“The price control cap of 90 per cent shall be applicable only to the SME segment and not for Mainboard IPOs/Relisted Securities/Public Debt,” NSE said in its circular issued today.
The circular, NSE added, will come in force with immediate effect.
NSE’s move comes at a time when the IPOs/primary market saw its best first half for any calendar year in 17 years.
Thus far in 2024, around 120 SME companies have launched their IPOs. Of these, 98 SME IPOs listed at premium, while 18 listed at discount over issue price.
Currently, Ganesh Green Bharat, Effwa Infra and Research, and Ambey Labs’ IPOs are open for subscription.
First Published: Jul 04 2024 | 1:48 PM IST