New Delhi, Dec. 19 -- Shares of Stanbik Agro made a strong debut on the BSE SME platform on Friday, December 19, following the successful completion of its initial public offering (IPO). Stanbik Agro share price debuted at Rs.31.75 per share, a premium of 5.88% over its offer price of Rs.30.

Soon after listing, Stanbik Agro shares extended gains and hit the 5% upper price band of Rs.33.33. From its IPO price, Stanbik Agro stock was higher by 11.10%.

The listing was higher than market expectations as seen from the grey market premium (GMP). Stanbik Agro IPO GMP ahead of stock market debut was nil, expecting listing at par with the IPO price of Rs.30.

Stanbik Agro IPO, booked 1.49 times at the end of the bidding period from December 12 t...