Glottis IPO Listing: In a disappointing stock market debut today, October 7, shares of Glottis Limited witnessed a massive gap-down listing. On the National Stock Exchange (NSE), Glottis share price listed at ₹84, a discount of 34.88% or ₹45 to the initial public offering (IPO) price of ₹129. Meanwhile, on the BSE, Glottis share price debuted at a 31.78%, or ₹41, discount at ₹88 apiece.
The listing was steeply below expectations. The grey market premium (GMP) for Glottis IPO was nil, signalling a flat debut in the stock market today.
Glottis IPO Details
Amid a lacklustre GMP, Glottis IPO witnessed a tepid demand, garnering just 2.12 times bids for its initial share sale. The issue received bids for 4,12,86,240 shares, as against 1,95,14,985 shares on offer.
The retail portion of the offer was booked 1.47 times, the non-institutional investors (NII) quota was subscribed 3.08 times and the qualified institutional buyers (QIB) segment received 1.84 times the bids.
(This is a developing story. Check back for updates.)