3C IT Solutions shares make a weak debut, list with 17.29% discount at ₹43.01 on BSE SME

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3C IT Solutions & Telecoms (India) share price made a weak stock market debut on Wednesday. 3C IT Solutions shares were listed at 43.01 apiece on BSE SME, a discount of 17.29% to the issue price of 52 per share.

3C IT Solutions listing was below market expectations. 3C IT Solutions IPO GMP today, or grey market premium today, was 0 per share, as per market observers. This means 3C IT Solutions shares did not command any premium of discount in the grey market and were trading at the IPO price of 52.

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3C IT Solutions IPO began for subscription on June 4 and ended on June 7. The IPO allotment was finalized on June 10 and the 3C IT Solutions IPO listing date was June 12.

3C IT Solutions IPO price band was 52 per share. The company raised 11.44 crore from the SME IPO which was a combination of fresh issue of 17 lakh equity shares aggregating to 8.84 crore and an offer for sale (OFS) of 5 lakh shares aggregating to 2.60 crore.

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3C IT Solutions IPO received strong subscription as the issue was booked 20.21 times in total. The public issue was subscribed 29.79 times in the retail category and 10.63 times in the Other category by June 7.

Kreo Capital Pvt Ltd is the book running lead manager of the 3C IT IPO, while Skyline Financial Services Pvt Ltd is the IPO registrar.

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Published: 12 Jun 2024, 10:00 AM IST

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