Suraj Estate Developers made a weak debut on the stock exchanges on Tuesday, with its shares being listed at a discount of over 5 per cent.
The company’s shares opened at Rs 340 apiece on the National Stock Exchange (NSE), marking a 5.55 per cent decline from the issue price of Rs 360. Meanwhile, on the Bombay Stock Exchange (BSE), the stock debuted at Rs 343.80, reflecting a 4.5 per cent discount.
The Suraj Estate IPO, which was open for subscription from December 18 to 20, had a price band of Rs 340-360 per share. Despite raising Rs 120 crore from 11 anchor investors ahead of the IPO, the company faced a weak market…