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
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.