Daijiworld Media Network – New Delhi

New Delhi, Sep 23: Shares of SS Retail and Jindal Supreme made strong debuts on the stock exchanges on Wednesday, while Hero Motors made a subdued listing on the BSE and National Stock Exchange (NSE).

SS Retail shares listed at Rs 639 on the BSE, registering a 50.73 per cent premium over the issue price of Rs 424. On the NSE, the stock opened at Rs 624, marking a gain of 47.17 per cent.

SS Retail operates a multi-brand retail chain selling mobile phones, accessories and other electronic products.

Jindal Supreme (India) Ltd, which manufactures plastic piping solutions and related products, listed at Rs 121.90 on the BSE, a premium of 31.80 per cent over its issue price of Rs 93. On the NSE, the stock opened at Rs 120, representing a gain of 29.03 per cent.

Hero Motors shares, meanwhile, listed at a discount to their IPO issue price of Rs 84. The stock opened at Rs 82.10 on the BSE, down 2.26 per cent from the issue price, while it listed at Rs 82 on the NSE, a discount of 2.38 per cent.

The three IPOs had received varying levels of investor response during their subscription periods. Jindal Supreme's public issue was subscribed 181.07 times, while SS Retail received 103.30 times subscription. Hero Motors' IPO was subscribed 6.66 times on the final day of bidding.

Ahead of the listings, grey market trends had indicated a strong premium for SS Retail and Jindal Supreme, while Hero Motors was expected to make a discounted debut.

According to Investorgain, Hero Motors' IPO grey market premium indicated an estimated listing price of around Rs 81 against the upper price band of Rs 84.

SS Retail's grey market premium was around Rs 160, implying a potential premium of 37.74 per cent over its issue price of Rs 424.

Jindal Supreme's grey market premium was around Rs 29, indicating an estimated listing price of about Rs 122 against the upper price band of Rs 93, or a premium of around 31.18 per cent.