New Delhi, Jan. 21 -- Narmadesh Brass Industries IPO listing: Shares of Narmadesh Brass Industries hit their lower circuit after a weak debut on the BSE SME on Wednesday, January 21. Narmadesh Brass Industries opened at Rs.495, 3.9% lower than the issue price of Rs.515. Soon after the listing, the stock plunged further to hit its 5% lower circuit of Rs.470.25. The lower circuit price is down 8.7% with respect to the issue price.

The stock's listing was largely in line with expectations in the grey market. The Narmadesh Brass Industries GMP on Wednesday morning was nil, indicating the stock could have listed at par with the issue price.

Narmadesh Brass Industries operates a manufacturing unit spanning around 6,300 square metres at the Sh...