New Delhi, Sept. 2 -- Shares of Globtier Infotech were off to a poor start on the BSE SME on Tuesday, September 2, as they listed at a 20% discount to the initial public offering (IPO) price of Rs.72. Globtier Infotech share price listed at Rs.57.60 apiece, down Rs.14.40, or 20%.

Soon after listing, Globtier Infotech shares extended losses to hit the 5% lower circuit of Rs.54.72.

The demand for Globtier Infotech IPO also remained tepid, garnering just 1.34 times bids. The retail portion was booked 2.04 times, while the non-institutional investor (NII) quota did not even reach the target, receiving only 0.63 times subscription.

Globtier Infotech IPO was a fixed price issue of Rs.31.05 crore, with the shares sold at Rs.72 apiece. The iss...