Shares of Globtier Infotech had a rough start on the BSE SME platform today. The company’s stock listed at a 20% discount compared to its IPO price, disappointing many investors. The share price opened at Rs 57.60, while the IPO had priced the shares at Rs 72. This meant new investors faced an immediate loss of Rs 14.40 per share.
For those who bought the minimum two lots, the listing loss was around Rs 46,080. Right after trading began, the stock kept falling and hit the 5% lower circuit at Rs 54.72, showing weak investor confidence.
This poor debut comes after low demand during the IPO. Globtier Infotech’s Rs 31.05 crore IPO, which included both new shares and an offer for sale, was subscribed only 1.34 times overall. The retail investors showed some interest, subscribing 2.04 times their quota, but non-institutional investors rarely participated, with just 0.63 times subscription.
The IPO was open from August 25 to August 28, with shares allocated on August 29. Investors had to apply for a minimum of two lots, equal to 3,200 shares, requiring at least Rs 2.30 lakh—a big investment for many.
Globtier Infotech planned to use the funds from the IPO to improve working capital, repay loans, and support its general business growth. The company, based in Noida, specializes in managed IT and SAP support services. It provides custom IT solutions designed to boost business performance.
The company also has a Business Continuity Planning (BCP) centre in Bengaluru, which helps ensure smooth operations even during disruptions. With its skilled team and infrastructure, Globtier aims to deliver reliable, uninterrupted IT support to clients across different industries.
Overall, the weak market response and poor listing highlight the cautious mood among investors.
