The New India Assurance Company 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.