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NSE caps SME IPO listing gains at 90% over issue price
The New Indian Express
|July 05, 2024
In its attempt to curb volatility and malpractice, the National Stock Exchange (NSE) has placed an overall capping of 90% over the issue price for small and medium enterprises (SME) IPOs during the special pre-open session.
This means the listing gain of a debutant stock will not exceed the 90% mark of the issue price.
This action, according to NSE, has been taken to standardise the opening price discovery or equilibrium price across exchanges during the special pre-open session. The change, which is not applicable to mainboard IPOS, has been implemented with immediate effect. "The price control cap of 90 per cent shall be applicable only to the SME segment and not for Mainboard IPOs/Relisted Securities/Public Debt," NSE said in its circular issued on Thursday.
This story is from the July 05, 2024 edition of The New Indian Express.
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