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Business News/ Markets / Stock Markets/  Vivaa Tradecom share price debuts on BSE SME at 20% discount to issue price
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Vivaa Tradecom share price debuts on BSE SME at 20% discount to issue price

Viva Tradecom IPO listed on BSE SME at ₹40.80per share, 20% lower than the issue price. Viva Tradecom IPO GMP today was ₹0, indicating no premium or discount in the grey market

Garments Premium
Garments

Vivaa Tradecom Limited shares made a weak debut on BSE today. On BSE SME, Vivaa Tradecom Limited share price today was listed at 40.80 per share, 20% lower than the issue price of 51 .

Vivaa Tradecom Limited public issue was offered at a fixed price of 51 per equity share of face value of 10 each. Vivaa Tradecom Limited lot size stood at 2000 equity shares and in multiples of 2000 equity shares thereafter. The issue price was 5.1 times the face value of the equity shares. Vivaa Tradecom Limited opened for subscription on Wednesday, September 27, and closed on Wednesday, October 4th.

Also Read -Sharp Chucks IPO listing: Sharp Chucks share price opens at 14% premium at 66 on NSE SME

Vivaa Tradecom Limited issues size was worth 7.99 crores which is entirely a fresh issue of 15.66 lakh equity shares. The face value of each share stood at 10 apiece. Mitesh Adani is the promoter of the company.

The company plans to use the net proceeds from the offering to meet working capital requirements and to fund general corporate purposes.

Vivaa Tradecom is a manufacturer and trader of clothes and garments. The company's product list includes Denim Fabric, readymade garments such as Denim and Cotton Jeans for Men- and women.

Also Read- Plaza Wires share price debuts at 41% premium at 76 on NSE

Interactive Financial Services is the lead manager to the issue, while Bigshare Services Pvt Ltd is the IPO registrar. 

The company had reserved 7.42 lakh shares or 47.38% of the total shares for retail investors while another 47.38% shares had been reserved for Non-Institutional Investors (NII) in the IPO.

Vivaa Tradecom Limited IPO GMP today

Viva Tradecom GMP today or grey market premium was 0, which meant Viva Tradecom shares were trading at their issue price of 51 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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ABOUT THE AUTHOR
Ujjval Jauhari
Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi.
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Published: 12 Oct 2023, 10:16 AM IST
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