Shri Kanha Stainless IPO: Retail Investors Shocked by Lower Circuit Listing

• Shri Kanha Stainless IPO shares listed at ₹88 on NSE SME, a 2.22% loss from the ₹90 issue price.
• The stock hit a lower circuit of ₹83.60 on its first trading day, resulting in a 7.11% loss for IPO investors.
• The ₹46.28 crore IPO was subscribed 2.81 times overall, with retail investors oversubscribing their portion by 4.91 times.
• Funds from the IPO are earmarked for manufacturing upgrades, debt reduction, working capital, and general corporate purposes.
• Shri Kanha Stainless, founded in 2015, manufactures precision stainless steel cold rolled strips for various industries.

Why It Matters: Shri Kanha Stainless IPO listed at a loss, shocking retail investors.