Vinit Mobile share price hits 5% lower circuit after weak debut

Vinit Mobile made a weak stock market debut on the NSE SME platform, listing at around ₹155 against an issue price of ₹158, a 2% discount. The share price subsequently hit the 5% lower circuit on the listing day. The IPO, which was subscribed 1.58 times, involved a fresh issue of 21.60 lakh equity shares with proceeds earmarked for retail expansion, working capital, and general corporate purposes.