Shares of Mumbai based Sangam Advisors started off trade at Rs 22.10 on the BSE SME platform as against its issue price of Rs 22. At 10:15 hours IST, it is still trading at opening price.

The BSE has fixed the upper circuit limit at Rs 23.10 and lower limit at Rs 21 for the stock.

The issue was opened for subscription during July 24-26, 2012. The company raised Rs 5.07 crore through the public issue of 23.04 lakh equity shares.

Sangam Advisors is engaged in the business of providing diversified financial services with a primary focus in assisting small and medium enterprises (SMEs) in corporate and non-corporate sector in their financial planning, corporate restructuring and fund syndication requirements.