Amagi Media Labs shares rally 13% after discount listing tests investor conviction
[hfe_template id='11223']
[ad_1]
Shares of Amagi Media Labs clawed back losses on their first day of trading Wednesday, rising nearly 13% from a weak opening after the cloud-based media technology company debuted at a double-digit discount to its issue price, a pattern that underscored both cautious pricing expectations and sustained investor interest. The stock opened at Rs 317 on the BSE, 12.19% below its issue price of Rs 361, before climbing as much as 12.8% to Rs 357.50. On the NSE, the shares listed at Rs 318, a discount of 11.91%, and later touched an intraday high of Rs 356.95, up 12.2% from the opening trade. Grey market signals, steady demand The muted debut was broadly in line with grey market expectations, which had pointed to a subdued opening despite strong subscription numbers. The grey market premium for Amagi Media Labs shares was hovering around zero ahead of the listing, signaling limited near-term exuberance even as demand for the issue remained robus...