Trident Techlabs, following an overwhelming response to its IPO, witnessed a stellar market debut on December 29, listing at a remarkable 180% premium over its issue price.
The stock commenced trading on the NSE SME platform at Rs 98.15, a substantial leap from its IPO price of Rs 35.
Despite the initial surge, the stock experienced a 5% dip shortly after the debut, as investors sought to capitalize on the impressive listing gains.
Market analysts had anticipated a robust listing performance, given the overwhelming demand during the public issue. The IPO garnered an astounding 502.64 times subscription, with retail investors showcasing exceptional enthusiasm by bidding 1,000 times their reserved portion. Non-institutional investors also exhibited substantial interest, subscribing over 800 times their allotted segment.