New Delhi, Aug. 3 -- Advance Technoforge IPO listing: Advance Technoforge shares made a muted debut on the BSE SME on Monday, 3 August, in an otherwise positive market. The SME stock opened at Rs.94 against the issue price of Rs.95. After a weak opening, it extended losses, hitting a lower circuit of Rs.89.30, down 6% from the issue price.

As per grey market sources, the stock's listing failed to meet expectations as the last grey market premium (GMP) of Advance Technoforge shares on Monday morning was Rs.4, suggesting the stock could list at a premium of over 4%.

The SME IPO opened for public subscription on Monday, 27 July, and concluded on Wednesday, 29 July, with an overall subscription of nearly 1.6 times.

The issue was entirely a...