New Delhi, Nov 13 (PTI) Shares of New India Assurance

Company made a sluggish debut at bourses today and ended with

a sharp loss of more than 9 per cent against the issue price

of Rs 800.

The stock listed at Rs 748.90, down 6.38 per cent,

compared to the issue price on the BSE. During the day, it

tumbled 10.28 per cent to Rs 717.75. It finally ended at Rs

725.05, down 9.36 per cent.

On NSE, shares of the company settled at Rs 727.10, a

loss of 9.11 per cent.

In terms of equity volume, 4.30 lakh shares of the

company were traded on BSE and over 25 lakh shares changed

hands on NSE during the day.

The company’s market valuation stood at Rs 59,744.12


The Rs 9,600-crore IPO was subscribed 1.19 times during

November 1-3.

The portion set aside for qualified institutional buyers

(QIBs) was subscribed 2.34 times, non-institutional investors

12 per cent and retail investors 11 per cent, according to

data available with the NSE.

The price band for the offer was set at Rs 770-800 per


Kotak Mahindra Capital Company, Axis Capital, Nomura

Financial Advisory and Securities (India) Private, IDFC Bank

and YES Securities were the book running lead managers to the


New India Assurance has assets of over Rs 69,000 crore

and has been growing at a CAGR of over 15 per cent for the

last five years.

This is published unedited from the PTI feed.