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

Company made a sluggish debut at bourses today, falling over 6

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.

At the NSE, shares of the company debuted at Rs 750, a

loss of 6.25 per cent from the issue price.

In terms of equity volume, 3.14 lakh shares of the

company were traded on the BSE and over 19 lakh shares changed

hands at the NSE during the morning trade.

The Rs 9,600-crore IPO was oversubscribed 1.19 times

during November 1-3.

The portion set aside for qualified institutional buyers

(QIBs) was oversubscribed 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.