Power Mech Projects, a power infrastructure services company, made a poor debut on the stock markets on Wednesday by listing at a discount of 6.25% to issue price. At the NSE, stock opened at Rs 600 a share as against issue price of Rs 640 a share.

The company's listing was lackluster despite overwhelming response to its initial public offering (IPO). The issue was subscribed 38.06 times. Current weak sentiments in the market weighed on the company's listing today.

Currently, shares are trading at Rs 626, down 2.19% from its issue price. It recorded a high of 663 and a low of Rs 580 at the NSE (11.23 am). A total of 20,85,914 shares exchanged hands at the NSE. 

The company will use the IPO proceeds for funding working capital requirements, general corporate purposes, renovation and modernization, scheduled shutdowns, retro fits as well as overhauling, maintenance and upgradation services for power plants.