New Delhi, Feb. 11 -- Shares of Grover Jewells were off to a decent start on the NSE SME on Wednesday, February 11, listing at a 9% premium over the offer price. Grover Jewells' share price opened at Rs.96, as against the initial public offering (IPO) of Rs.88, a premium of 9.09%.

However, minutes after listing, profit taking ensued as Grover Jewells' share price hit the day's low of 91.40, dropping almost 5%.

Grover Jewells' IPO listing beat expectations as the grey market premium (GMP) remained nil earlier today, signalling a flattish debut at par with the IPO price.

The Rs.33.83-crore Grover Jewells IPO was open for bidding from February 4 to February 6, during which it garnered a decent response from investors.

Grover Jewells' IPO...