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JG Chemicals IPO shares were available at around 10-12 percent premium over the issue price, in the grey market, an unofficial market for trading in IPO shares till the listing.
Analysts said the muted pre-listing GMP and negative listing indicate a cautious investor approach, possibly due to volatile market conditions or concerns about competition and working capital requirements.
R K Swamy IPO: The price band for the issue has been fixed at Rs 270-288 per share.
The 30-share pack BSE Sensex dropped about 617 points, or 0.83 per cent to settle at 73,502.64. NSE's Nifty50 tanked about 161 points, or 0.72 per cent to end the session at 22,332.65.
Unlisted shares of R K Swamy are currently trading with zero premium in the grey market, thus indicating no gains on the listing day, R K Swamy IPO Listing On March 12: Know What Latest GMP Indicates