SJS Enterprises Shares Make Weak Market Debut, Falls 6% From IPO Price

Shares of SJS Enterprises Limited made weak inventory market debut on Monday because it opened for buying and selling at Rs 540 per share in contrast with its concern value of Rs 542 per share. The inventory fell as a lot as 6.13 per cent to hit an intraday low of Rs 508.75 on the BSE. On the National Stock Exchange, SJS Enterprises shares hit an intraday low of Rs 508.40.SJS Enterprises share sale through preliminary public providing (IPO) obtained tepid response from traders as the problem was subscribed 1.59 occasions. The firm raised Rs 1,600 crore within the IPO which consisted of a suggestion on the market price Rs 800 crore from its current shareholders Evergraph and Okay.A. Joseph and recent concern of Rs 800 crore.Among numerous class of traders, SJS Enterprises IPO was subscribed 1.42 occasions by the Qualified Institutional Buyers (QIBs), Non Institutional Investors portion was subscribed 2.32 occasions whereas portion put aside for retail traders was subscribed 1.38 occasions, knowledge from the National Stock Exchange confirmed.SJS Enterprises is a 'design-to-delivery' aesthetics options supplier with a various product providing for the automotive and shopper equipment industries. Its product choices embrace - decals and physique graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes, overlays, aluminum badges, amongst others.As of 10:52 am, SJS Enterprises shares had been buying and selling 3.73 per cent decrease, from its concern value, at Rs 521.80 per share.