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News From Press New India Assurance makes weak debut; lists below issue price

New India Assurance makes weak debut; lists below issue price

Source: Business Standard Nov 13, 2017

The has listed at Rs 749,  6% below its issue price of Rs 800 per share offered to qualified institutional buyers (QIBs) and non-institutional investors (NIIs). The company issued shares at Rs 770, a discount of Rs 30 on the offer to retail individual investors and eligible employees.

On the National Stock Exchange (NSE), the stock debuted at Rs 750. At 10:04 AM; it was trading at Rs 722 on the BSE after hitting a low of Rs 718. While on the NSE, the scrip was quoting at Rs 725 after hitting a low of Rs 717 in intra-day deals. A combined 893,453 shares changed hands on the counter on the NSE and BSE.

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