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SME IPO: Sellowrap shares open at ₹90, hit ₹100 mark
Sellowrap Industries, which makes auto parts, had a strong first day on the NSE SME—its shares opened at ₹90, about 8% higher than the ₹83 issue price.
That's even better than what market watchers predicted and shows investors were really interested.
The IPO allotment wrapped up just a couple of days ago.
Retail investors showed strong interest
The company's IPO saw huge interest: it was oversubscribed 65 times overall.
Retail investors jumped in with 68x subscription, while non-institutional investors went all out at nearly 118x.
Gretex Corporate Services managed the process, and this buzz suggests people are feeling pretty confident about the auto components sector right now.