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Shree Balaji (Mala) Textiles SME IPO lists at 90% premium, hits lower circuit
After listing at ₹133, the stock slid 5% to ₹126.35 following profit booking, despite a grey market premium that suggested an 80% listing range.
Shree Balaji (Mala) Textiles shares hit a lower circuit on profit booking shortly after the company’s SME IPO listing on the BSE on 29 July. The stock was listed at ₹133, representing a 90% premium to the issue price of ₹70, before falling to ₹126.35, a 5% lower circuit.
The article said grey market signals pointed to strong demand, with the last grey market premium (GMP) reported at ₹56. That implied the shares could list at roughly an 80% premium to the issue price, even as trading turned to profit taking right after the debut.
The IPO was a fully fresh issue of 27 lakh shares aimed at raising nearly ₹19 crore. Subscription ran from 22 July to 24 July, with an overall subscription level reported at 200 times, and share allotment finalised on 27 July.
Shree Balaji (Mala) Textiles is described as a contract manufacturer and wholesaler of cotton sarees in India’s B2B cotton sarees wholesale segment, under the “Mala Saree” brand. For FY26, 90.75% of revenue came from the sale of cotton sarees, while sales were reported at ₹211.97 crore and profit at ₹5.85 crore in the last financial year, according to LiveMint Markets.