The stock opened at Rs 156 apiece against the issue price of Rs 183.
The debut was weaker than unlisted market expectations, which had hinted at a flat listing.
Ahead of the opening, the grey market premium (GMP) had indicated only a marginal upside despite strong subscription demand.Simca Advertising's Rs 58 crore IPO was entirely a fresh issue of 31.71 lakh shares.
The public issue was subscribed to 80.88 times overall, led by strong interest from qualified institutional buyers and non-institutional investors.The QIB portion was subscribed to 101.08 times, while the NII segment saw subscription of 81.54 times.
The retail investor category was booked 70.9 times.The IPO had opened for subscription between May 8 and May 12.
