New Delhi, June 17 -- Jainik Power and Cables Limited commenced trading on the NSE SME platform on Tuesday, opening at Rs 82 per share, representing a decline of more than 25 percent from its initial public offering price of Rs 110.

The stock subsequently recovered to trade at Rs 86.10, marking a 5 percent gain from its listing price.

The listing performance fell short of grey market expectations, where unlisted shares had been trading at par with the upper price band of Rs 110 ahead of the market debut, according to sources monitoring unofficial trading activities.

The initial public offering attracted moderate investor interest, receiving bids for 70.76 lakh shares against the 46.63 lakh shares on offer.

This resulted in an oversubs...