New Delhi, Feb. 4 -- Shares of Kanishk Aluminium were off to a tepid start on Wednesday, February 4, as they listed at a massive discount of 20% to their initial public offering (IPO) price of Rs.73.

Kanishk Aluminium share price listed at Rs.58.40 today, down 20% to its IPO price. Soon after listing, the SME stock faced intense selling pressure and hit the 5% lower price band. Kanishk Aluminium IPO investors are now sitting on losses of 24%. As of 11 am, Kanishk Aluminium shares were locked in the 5% lower price band of Rs.55.48.

The listing was sharply below expectations as Kanishk Aluminium IPO GMP was nil ahead of the stock market debut, suggesting a flat start.

The Rs.29 crore Kanishk Aluminium IPO was booked 1.04 times as of the ...