New Delhi, Sept. 5 -- Snehaa Organics shares were off to a tepid start on Friday, September 5, as they listed at par to their issue price of Rs.122 on the NSE SME platform. Soon, within seconds of listing, Snehaa Organics' share price faced intense selling pressure and hit the 5% lower price band of Rs.115.90.

As of 10.02 am, over 4 lakh 'sell' orders were placed on NSE for Snehaa Organics shares.

The Rs.32.68 crore Snehaa Organics IPO witnessed a strong demand from investors, garnering 27.75 times bids. The retail portion of the SME IPO was booked 37.75 times, while the NII quota was subscribed 16.23 times. Lastly, the QIB part received 42.19 times bids.

Snehaa Organics IPO was open for bidding from August 29 to September 2. The issue...