Business · India Bureau
Annu Projects shares tumble on market debut, listing at steep discount
Annu Projects made a weak debut on Indian bourses, with shares listing significantly below their offer price on both exchanges. The stock opened at discounts exceeding 24 per cent on its first day of trading.
LSN India ·
Shares of Annu Projects listed at ₹75 on the Bombay Stock Exchange (BSE), representing a 24.24 per cent discount to the initial public offering price of ₹99, reflecting investor caution on the company's debut.
On the National Stock Exchange (NSE), the stock opened even weaker, debuting at ₹72 per share, down 27.27 per cent from the offer price. The steeper decline on the NSE suggests continued selling pressure as trading volumes built on the country's larger exchange.
The lackluster listing indicates subdued investor sentiment toward the issue and comes amid broader volatility in India's primary market. Weak debuts have become increasingly common as investors reassess valuations across the market.
Annu Projects had offered shares at ₹99 apiece during its IPO phase. The company's performance on listing day suggests that the pricing may not have resonated with market participants, who chose to liquidate their holdings immediately after listing rather than hold positions for potential gains.