New Delhi, Nov. 6 -- Shares of SME company Safecure Services were off to a weak start on the BSE today, November 6, as they listed at a massive 20% discount to their initial public offering (IPO) price.

Safecure Services' share price got listed at Rs.81.60 on BSE SME, a discount of 20% to the issue price of Rs.102. Soon after listing, Safecure Services shares extended their fall and hit the 5% lower price band of Rs.77.55.

The listing missed expectations, as Safecure Services' IPO GMP today was nil ahead of the stock market debut.

The SME IPO witnessed a tepid response, having been subscribed just 1.81 times during the three-day bidding period. The retail investor portion was booked 3.31 times, and the non-institutional investor (NII) ...