New Delhi, July 7 -- Teja Engineering Industries IPO listing: Shares of Teja Engineering Industries made a stellar debut on the NSE SME on Tuesday, 7 July, in an otherwise lacklustre market.

Teja Engineering Industries' share price opened at Rs.418 on the NSE, a premium of 90% over the issue price of Rs.220. The SME stock extended gains further to hit its upper price band of Rs.438.90. Around 10:25 am, the stock was locked at its upper circuit. Equity benchmark Nifty 50 was 0.30% up at 24,500 at that time.

The stock's listing exceeded grey market expectations significantly, with the last grey market premium (GMP) for Teja Engineering shares at Rs.36, suggesting the stock could list at a 16% premium over the issue price.

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