Admach Systems SME IPO listing: Shares of Admach Systems listed at a 20% discount to the issue price of 239 on Wednesday, 31 December. The SME stock opened at 191.20, down 20% with respect to the issue price, but rebounded to hit the upper price band of 200.75 as the day progressed. However, the stock’s upper price band level is still 16% down with respect to the issue price.
The stock failed to meet the listing expectations of gray markets, as sources indicate that the last gray market premium (GMP) of the stock suggested it was to list at 250.
Admach Systems designs and builds machines for the Indian and global engineering industry.
As per the Red Herring Prospectus (RHP) of the IPO, Admach Systems offers customized solutions to various industries, including steel, automobile, food, tooling, and other engineering industries.
Its areas of specialization are special-purpose machines, automation, assembly machines, packaging machines, product design and robotic material handling systems.
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