New Delhi, March 7 -- Balaji Phosphates made a decent debut on Dalal Street today, March 7, with its shares listing at Rs.75 each on the NSE SME, a 7.14% premium over the issue price of Rs.70. The stock, further gained momentum after listing, reaching Rs.78, which is 11.40% higher than the IPO price.

The SME IPO, valued at Rs.50.11 crore, was open for subscription from February 28, 2025, to March 04, 2025, with a price band of Rs.70 per share. The issue is a combination of a fresh issue of 59.40 lakh shares aggregating to Rs.41.58 crores and an offer for sale of 12.18 lakh shares aggregating to Rs.8.53 crores.

The IPO received a muted response, with the issue subscribed only 1.21 times. The non-institutional investors' portion was subsc...