M.R.Maniveni Foods stumbles on BSE SME debut, lists at 18% discount to ₹52 IPO price
The Indian food processing and packaging company opened at ₹42.55, an 18.17% discount to its ₹52 issue price, after its ₹27 crore IPO drew tepid 1.51x overall subscription. Retail booked 2.06x and NII 1.88x, but weak demand translated into a soft listing.
M.R.Maniveni Foods, an Indian food processing and packaging company, made a weak BSE SME debut listing at ₹42.55, an 18% discount to its ₹52 IPO price. The ₹27 crore issue was subscribed 1.51 times.