Amagi Media Labs shares open below IPO price, despite huge investor buzz
Business
Amagi Media Labs didn't get the warmest welcome on the stock market today—its shares started trading at ₹317 on the BSE, about 12% lower than its IPO price of ₹361.
The story was similar on the NSE, with shares opening at ₹318.
Investors rushed for IPO slots, but debut fizzled
Even though the listing was underwhelming, Amagi's IPO had everyone talking last week. It was oversubscribed more than 30 times—meaning way more people wanted in than there were shares available.
Non-institutional and institutional investors both piled in, and even retail investors subscribed nearly 10 times their quota.
So while day one on the market wasn't a blockbuster, interest in Amagi is clearly strong.