Mumbai, Sep 2
Shares of Globtier Infotech had a disappointing debut on the BSE SME platform on Tuesday as they listed at a sharp 20 per cent discount to their issue price.
The stock opened at Rs 57.60 against the IPO price of Rs 72, leaving investors with immediate losses of Rs 14.40 per share.
For those who invested the minimum two lots, the listing translated into a loss of around Rs 46,080.
Soon after listing, the stock extended its losses and hit the 5 per cent lower circuit at Rs 54.72.
The weak listing comes on the back of low investor interest during the IPO. Globtier Infotech’s Rs 31.05 crore IPO, which was a mix of fresh issue and offer for sale, managed to get only 1.34 times subscription.