Sundrex Oil Company made a disappointing debut on the stock market, with its shares listing at a 20 percent discount to the SME IPO issue price. The weak listing reflected muted investor sentiment and lack of demand in the secondary market.
Ahead of the listing, market signals were already pointing toward a soft start. In the grey market, Sundrex Oil Company’s unlisted shares were trading flat at the IPO price, indicating a zero grey market premium (GMP). This suggested that investors were not expecting any listing gains from the issue.
The poor debut highlights ongoing caution in the SME segment, where investors have become increasingly selective amid volatile market conditions. Despite fundraising success during the IPO phase, the absence of grey market enthusiasm and broader market uncertainty weighed on the stock’s listing performance.
Market participants will now closely watch the company’s financial performance, order book strength, and business outlook to assess whether the stock can recover from its weak debut over the medium to long term.
