Essex Marine Share Price Falls 20% on Weak Market Debut

Market Performance

Essex Marine share price opened on a weak note during its listing on August 11. The stock debuted at ₹43.20 per share on the BSE SME platform, reflecting a 20% discount to its IPO price of ₹54.

Soon after the debut, the Essex Marine share price slipped further by 5%, touching the lower circuit limit of ₹41.04 per share. At 10:15 am, the company’s market capitalization stood at approximately ₹63 crore.

Main News

The disappointing listing means the Essex Marine share price is now down 24% compared to its IPO issue price. Investors who participated in the IPO have faced immediate losses following the stock's debut.

The decline comes despite strong subscription numbers during the IPO period. The issue was subscribed nearly 3 times between August 4 and August 6.

Company Details

• Location: Kolkata, West Bengal
• Business: Seafood exporter and processor
• IPO Fundraising: ₹23 crore via fresh issue
• Shares Issued: Nearly 43 lakh equity shares
• Subscription Period: August 4 to August 6
• Subscription Rate: Almost 3x the offer size

Investor Impact

• IPO Price: ₹54 per share
• Listing Price: ₹43.20 per share
• Current Price: ₹41.04 per share
• Lot Size: 2,000 shares
• Minimum Investment in IPO: ₹1.08 lakh
• Value of One Lot at Listing: ₹86,400
• Notional Loss Per Lot: ₹21,600

Summary

The Essex Marine share price suffered a weak listing, opening 20% lower than its IPO price and sliding further during early trade. Despite the IPO being subscribed nearly three times, investors have faced immediate losses, with the stock now trading 24% below its issue price. The company, based in Kolkata, had raised ₹23 crore to support its business operations as a seafood exporter and processor.