Usha Financial Services debuted on the NSE SME platform on October 31, opening at a price of Rs 164 per share, which was 2.4% lower than its issue price of Rs 168.
The IPO, valued at Rs 98.45 crore, involved the issuance of 58.6 lakh shares and was part of a book-built issue.
Bidding for the IPO took place from October 24 to October 28, with allotments finalized on October 29.
The IPO had a price band of Rs 160 to Rs 168 per share.
Retail investors were required to invest a minimum of Rs 1.34 lakh, while high-net-worth investors needed to invest at least Rs 2.69 lakh.
The proceeds from the IPO will be used by Usha Financial Services to strengthen its capital base and support general corporate purposes.