Security and Intelligence Services (India) opened the first trade at Rs 855 on the National Stock Exchange, up 4.9 percent over its issue price of Rs 815.
Equity benchmarks extended losses in morning trade, with the Sensex falling 150.96 points to 31,646.88 and the Nifty down 48.60 points at 9,859.45.
The broader markets continued to see heavy selling pressure for third consecutive session today. The BSE Midcap and Smallcap indices fell more than 1 percent as about four shares declined for every share rising on the exchange.
The listing was on expected lines as the issue saw a subscription of 7 times. The stock was trading at Rs 856.95, up 5.14 percent over issue price but down 2.6 percent from pre-opening price. In the pre-opening, the stock settled at Rs 879.80, higher by 8 percent from its issue price.
SIS India raised Rs 780 crore through public issue that was opened for subscription between July 31 and August 2. The price band for the issue was at Rs 805-815 per share.