Symbiotec Pharmalab IPO listing: Shares list at a 1% discount on BSE; should investors buy more, book profits, or hold?
New Delhi, Sept. 1 -- Symbiotec Pharmalab IPO listing: Symbiotec Pharmalab share price listed at a discount on the BSE on Tuesday, 1 September, amid weak stock market sentiment. Symbiotec Pharmalab shares were listed at Rs.978.20 on the BSE, down 1% from the issue price of Rs.988. On the NSE, the stock debuted flat at Rs.988.
Soon after the listing, the stock hit highs and lows of Rs.1,120 and Rs.933.80, respectively, on the BSE. On the NSE, the stock rose to Rs.1,124.50 and declined to Rs.934.20.
The stock's listing failed to meet expectations, as the grey market premium (GMP) for Symbiotec Pharmalab on Tuesday morning was Rs.185, suggesting the stock could list at Rs.1,173, a premium of nearly 19% over the IPO price.
Meanwhile, stock...
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