Weak listing of Sona machinery

Sona Machinery, a manufacturer of agro-processing machines, had a disappointing start on the stock market debut on March 13. It began trading at a price 12.5 percent lower than the issue price of Rs 143 on the NSE SME.However, shortly after its debut, the share price started to show some improvement and was trading at Rs 131, which was 5 percent higher than its opening price.The company garnered significant interest from a wide range of investors, with its public offering being oversubscribed by 254.37 times. Investors subscribed to 65.93 crore equity shares, surpassing the IPO size of 25.92 lakh equity shares.