Green Asia Impex hits 5% lower band on NSE Emerge debut; Papadmalji trades below ₹72 issue; R.K. Fashion book crosses 2×

Green Asia Impex: issue price, then the floor

• NSE set ₹89 as the base price, the same as the issue price. On NSE’s data, the day’s average traded price is ₹88.68 — so most of the 12.54 lakh shares traded changed hands at or near ₹89, before the stock slid (Capital Chronicle reading of NSE data).
• In the indicative intraday feed, trading fell to ₹85.10 by 10:02 a.m. and reached the ₹84.55 band by 10:24 a.m. — 5% below the discovered price, the most NSE’s band allows today.
• At ₹84.55, the 2,13,53,345 listed shares are worth about ₹180.5 crore, against about ₹190 crore at the issue price — roughly ₹9.5 crore lower, and about 11.6× FY26 profit of ₹15.61 crore (Capital Chronicle arithmetic on NSE and prospectus figures).
• Context from the book: bidding was extended to 1 Oct and finished at 0.98× of the shares on offer on NSE’s bid display.

Papadmalji Agro Foods: a small premium that did not hold

• The discovered price of ₹72.30 was 30 paise above issue. The ₹71.71 average traded price shows most volume went through near that level, before trade moved to the ₹68.70 lower band (Capital Chronicle reading of NSE data).
• 16.05 lakh shares have traded — about 57% of the 28.03 lakh shares offered in the IPO, and about 17% of the 93,92,388 listed shares (Capital Chronicle arithmetic).
• At ₹69.65 the company is valued at about ₹65.4 crore — about 12.6× FY26 profit of ₹5.21 crore (Capital Chronicle arithmetic).

R.K. Fashion Accessories: the book fills on the final day

• NSE’s current-issue list shows 85,61,600 shares bid against 42,67,200 offered — 2.01× at about 2:25 p.m. On Tuesday at 5:00 p.m., NSE showed 0.47×.
• NSE’s category table (2:20 p.m.): individual investors bidding for two lots — 53.18 lakh shares from 1,662 applications; non-institutional investors 26.00 lakh shares (213 applications); qualified institutions 6.10 lakh shares (2 applications). Total applications: 1,877.
• The RHP reserves not less than 24,03,200 shares for individual investors; the two-lot bids are about 2.2× that portion (Capital Chronicle arithmetic).
• Combined NSE and BSE bids at the ₹82 cap stood at 76.34 lakh shares (2:18 p.m.) — about 89% of all bids.
• The company (RHP): Kolkata-based maker of fashion jewellery and related products through third-party contract manufacturers. FY26 revenue ₹30.36 crore (+70.8% from ₹17.77 crore), profit after tax ₹6.29 crore (FY25 ₹2.00 crore). Planned uses include a new plating facility at Baruipur (₹8.80 crore), a B2B showroom in Kolkata (₹5.37 crore) and working capital (₹5.21 crore).
• At ₹82, the 1,55,16,763 post-issue shares would be worth about ₹127 crore, about 20× FY26 profit (Capital Chronicle arithmetic). NSE says bidding on the closing day runs until 4:00 p.m., with UPI mandates accepted until 5:00 p.m. Per the RHP: allotment on or about 8 Oct, trading on or about Mon 12 Oct.

Vishal Nirmiti and Nityas Gems: final prices filed

• Vishal Nirmiti — Prospectus dated 5 Oct 2026: offer price ₹220, the top of the ₹208–220 band; 80,90,909 shares for ₹178 crore (fresh issue ₹145 crore plus an offer for sale of 15,00,000 shares). NSE circular NSE/CML/76762 (7 Oct) confirms the forthcoming listing under symbol VNL; NSE says the listing date will follow in a separate circular.
• Nityas Gems and Jewellery — Prospectus dated 6 Oct 2026: issue price ₹75, the top of the ₹70–75 band; 1,44,56,000 fresh shares for about ₹108.35 crore, with a ₹7 discount for eligible employees. Capital Chronicle had not located an NSE listing circular for Nityas as of 2:25 p.m.
• Both RHP timetables point to trading on or about Thu 8 Oct.

Pipeline check

• NSE’s current and upcoming issue lists show no mainboard equity IPO open or scheduled — only two debt issues (an SMC Global Securities NCD, 5–16 Oct, and a Grace Cancer Foundation zero-coupon issue, 7–9 Oct).

What to watch

1. Whether GREENASIA finds buyers at ₹84.55 before the 3:30 p.m. close
2. R.K. Fashion final bids after 4:00 p.m.
3. NSE/BSE listing-date notices for Vishal Nirmiti and Nityas Gems, and Jyoti Resins & Adhesives’ NSE debut on Thu 8 Oct

Sources

• NSE quote data (GetQuote, series ST), last updated 7 Oct 2026, 2:24 p.m. IST — GREENASIA and PAPADMALJI: base/open price, day high/low, last price, average price, traded volume and value, price band, market capitalisation, order book — https://www.nseindia.com/get-quote/equity/GREENASIA · https://www.nseindia.com/get-quote/equity/PAPADMALJI
• NSE Emerge market data, as on 7 Oct 2026, 2:21 p.m. IST — https://www.nseindia.com/api/live-analysis-emerge
• NSE new listings today — GREENASIA and PAPADMALJI, effective 7 Oct 2026, special pre-open: Y — https://www.nseindia.com/api/new-listing-today?index=NewListing
• NSE Circulars NSE/CML/76752 and NSE/CML/76746 (6 Oct 2026) — listing of Green Asia Impex (₹89, 2,13,53,345 shares) and Papadmalji Agro Foods (₹72, 93,92,388 shares) — https://nsearchives.nseindia.com/content/circulars/CML76752.zip · https://nsearchives.nseindia.com/content/circulars/CML76746.zip
• NSE Circular NSE/CML/76762 (7 Oct 2026) — Listing of Equity Shares of Vishal Nirmiti Limited (IPO): symbol VNL, ISIN INE1O5L01025; listing date to be informed separately — https://nsearchives.nseindia.com/content/circulars/CML76762.pdf
• NSE IPO data — R.K. Fashion Accessories: current-issue list (85,61,600 / 42,67,200, 2.01×, ~2:25 p.m. IST); category-wise bid details and applications (2:20 p.m.); cumulative demand at each price point (NSE+BSE, 2:18 p.m.); issue information — https://www.nseindia.com/api/ipo-current-issue · https://www.nseindia.com/api/ipo-detail?symbol=RKFAL&series=SME
• R.K. Fashion Accessories Limited Red Herring Prospectus (as hosted by NSE) — business, FY24–FY26 restated financials, objects, post-issue share count, timetable — https://nsearchives.nseindia.com/content/ipo/RHP_RKFAL.zip
• Vishal Nirmiti Limited Prospectus dated 5 Oct 2026 — offer price ₹220, offer size — https://www.vishalnirmiti.com/_files/ugd/052e71_507fc8ccbedb491cac25fbba667575db.pdf
• Nityas Gems and Jewellery Limited Prospectus dated 6 Oct 2026 — issue price ₹75, issue size — https://nityas.in/wp-content/uploads/2026/10/Nityas-GemsProspectus.pdf
• Green Asia Impex and Papadmalji Agro Foods RHPs — FY26 restated profit (see list-day story)
• Intraday timing of trades (10:02 a.m., 10:24 a.m., ~1:40 p.m.): indicative public market-data feed, 1-minute data on 7 Oct 2026; not exchange-certified

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