Three mainboard IPOs — Kanohar Electricals, Prasol Chemicals and Glass Wall Systems — made their stock market debut on the BSE and NSE on Wednesday. The three stocks delivered mixed listing performances, with Kanohar Electricals and Glass Wall Systems opening above their IPO prices, while Prasol Chemicals listed at a discount.
Among the three, Kanohar Electricals recorded the strongest opening gain, while Prasol Chemicals was the only stock to debut below its IPO price.
Kanohar Electricals IPO Listing
Kanohar Electricals made a positive debut on Wednesday. The stock opened at ₹672.05 on the BSE, representing a gain of ₹40.05, or 6.34%, over its IPO price of ₹632.
On the NSE, Kanohar Electricals opened at ₹685.50, translating into a premium of ₹53.50 or 8.47% over the issue price.
At around 10:30 AM, the stock was trading at approximately ₹719.40 on the BSE, according to the figures available at that time. This was ₹47.35, or about 7.05%, above its BSE listing price.
Prasol Chemicals IPO Listing
Prasol Chemicals had a weaker debut compared with the other two IPOs. The stock opened at ₹611 on the BSE, a decline of ₹65 or 9.62% from its IPO price of ₹676.
On the NSE, Prasol Chemicals opened at ₹610, down ₹66 or 9.76% from the issue price.
However, the stock recovered some ground after listing. At around 10:30 AM, it was trading at ₹621.20 on the BSE, which was ₹10.20 or approximately 1.67% above its BSE listing price.
Glass Wall Systems IPO Listing
Glass Wall Systems also made a positive debut, although its listing premium was lower than that of Kanohar Electricals.
The stock opened at ₹190.10 on the BSE, a gain of ₹8.10 or 4.45% over its IPO price of ₹182.
On the NSE, Glass Wall Systems opened at ₹194, representing a premium of ₹12 or 6.59% over the issue price.
At around 10:30 AM, the stock was trading at approximately ₹197 on the BSE, up ₹15 or 8.24% from its BSE listing price.
IPO Listing Today: Which Stock Performed Better?
The September 16 IPO debuts produced a mixed picture. Kanohar Electricals recorded the highest listing premium at 8.47% on the NSE, followed by Glass Wall Systems at 6.59%. Prasol Chemicals, meanwhile, opened at a 9.76% discount to its IPO price on the NSE.
Investors should note that a stock's listing price reflects its opening market valuation and can change significantly during the trading session. A positive or negative debut alone does not determine the stock's longer-term performance.
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