New Delhi, July 7 -- Yarn manufacturer Cedaar Textile shares witnessed a weak stock market debut on Monday, July 7, as the stock got listed at a discount of 15% to the issue price despite decent demand for the initial public offering (IPO). Cedaar Textile share price opened at Rs.119 on the NSE SME, 15% below its IPO price of Rs.140.

After listing, Cedaar Textile share price extended losses to hit the day's low of 113.05 on the NSE SME, down 19.25% from the IPO price.

Cedaar Textile IPO listing was lower than market expectations as the grey market premium (GMP) signalled a 7% listing pop. Cedaar Textile IPO GMP was Rs.10, which means that Cedaar Textile share price was trading at Rs.10 higher than its issue price in the grey market, a p...