The shares of SJS Enterprises open 1% below the issue price

• Shares of SJS Enterprises IPO listed at over 1% discount from its price band of ₹531-542 per share.
• The IPO was subscribed 1.59 times on the last day of the bidding.
• The market capitalisation of the company stood at ₹1,619 crore.

Shares of SJS Enterprises IPO made a weak listing on National Stock Exchange (NSE) and BSE at over 1% discount from its price band of ₹531-542 per share.

Post listing, the market capitalisation of the company stood at ₹1,619 crore, according to BSE data.

The shares of SJS Enterprises were trading at ₹537, 0.98% lower at 10.02 a.m., on November 15.

The grey market price of the stock had suggested a premium of ₹38 over the upper price band of ₹542.

SJS Enterprises IPO received decent demand in subscription as it got subscribed 1.59 times in the three days of IPO bidding process.

The issue was open for subscription between November 1 and November 3.

SJS Enterprises, one of the leading players in the Indian decorative aesthetics products like decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes and many others.

The IPO consisted of a pure offer for sale of ₹800 crore with ₹710 crore by Evergraph Holdings Pte -- subsidiary of private equity firm Everstone who invested in 2015 and ₹90 crore by KA Joseph, managing director of the company.

It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune.

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