New Delhi, June 11 -- Shares of Vahh Chemicals listed at a solid premium on BSE SME on Thursday, 11 June, but soon witnessed selling pressure and hit the 5% lower price band.

Vahh Chemicals share price listed at Rs.70 apiece as against the initial public offering (IPO) price of Rs.60, a premium of 16.66%. The stock rose marginally to its day's high of Rs.71 but then reversed trend to hit the 5% lower price band of Rs.66.50 apiece.

The listing was better than expectations as signalled by the grey market premium (GMP). Vahh Chemicals IPO GMP ahead of stock market debut was Rs.5.25, suggesting a listing pop of 8.75%.

The offer received a stellar response from investors, closing its bidding period with 86.65 times bids. The non-institution...