Shares of Agroz Inc. (AGRZ) tumbled 8.75% in intraday trading on Wednesday, marking a disappointing debut for the food security technology company following its initial public offering (IPO). The significant drop came after Agroz announced the pricing of its IPO at $4.00 per share, aiming to raise $5 million in the offering.

Agroz Inc., a company focused on developing innovative solutions for food security, had generated considerable interest leading up to its Nasdaq listing. The IPO was seen as a crucial step for the company to secure funding for its future growth and expansion plans in the competitive agtech sector. VCI Global, a key backer of Agroz, had expressed optimism about the company's potential to make a significant impact in the food security technology space.

Despite the initial excitement, the sharp decline in Agroz's stock price on its first day of trading suggests that investors may have concerns about the company's valuation or near-term prospects. The 8.75% drop could indicate that the market believes the IPO was overpriced, or it might reflect broader uncertainties in the agtech sector. As trading continues, market participants will be closely watching Agroz's performance to gauge whether this initial setback is temporary or indicative of longer-term challenges for the newly public company.