New Delhi, July 29 -- Shree Balaji (Mala) Textiles SME IPO listing: Shares of Shree Balaji (Mala) Textiles hit a lower circuit after listing at a solid 90% premium on the BSE SME on Wednesday, 29 July, amid positive market sentiment.

Shree Balaji (Mala) Textiles share price was listed at Rs.133, a 90% premium to the issue price of Rs. 70. However, soon after listing, the stock witnessed strong profit booking, which drove it to a 5% lower circuit to Rs.126.35.

According to grey market sources, the SME stock's listing exceeded expectations, with the last grey market premium (GMP) for Shree Balaji Mala shares at Rs.56, suggesting the stock could list at an 80% premium to the issue price.

Shree Balaji Mala IPO was entirely a fresh issue of...