New Delhi, July 1 -- Shreedhar Spinners IPO listing: Shares of Shreedhar Spinners made a positive debut and extended gains to hit their upper price band on the NSE SME on Wednesday, 1 July. Shreedhar Spinners' share price was listed at Rs.54.40, up 2.6% from the issue price of Rs.53 and rose 7.74% from the IPO price to hit its upper circuit of Rs.57.10.

The SME stock's listing was slightly better than expected, as the last grey market premium (GMP) indicated the stock could see a flat listing.

Shreedhar Spinners IPO opened for public subscription on Tuesday, 23 June, and concluded on Thursday, 25 June, with an overall subscription of nearly 7 times.

The IPO was an entirely fresh issue of 57,88,000 shares, priced at Rs.51 to Rs.53 per s...