Sundrex Oil Debuts Weakly, Shares Plunge 20% Below IPO Price

• Sundrex Oil Company shares listed at Rs 68.80 on NSE Emerge, a 20% discount to its SME IPO price of Rs 86.
• The company debuted with a market capitalization of Rs 92.15 crore.
• Grey Market Premium (GMP) was zero before listing, sharply down from 19.77% quoted earlier.
• The Rs 32 crore SME IPO was fully subscribed, with retail investors oversubscribing their portion nearly 2 times.
• IPO proceeds are earmarked for working capital, capital expenditure, loan repayment, and general corporate purposes.

Why It Matters: Sundrex Oil Company faced a weak market debut, listing at a significant discount despite full IPO subscription.