Cantabil Retail debuts 15% down on NSE

Apparel manufacturer Cantabil Retail today made a weak debut on the bourses, opening about 15 per cent lower against its issue price of Rs 135 on NSE.

In a disappointment to its investors, shares of the company started the session with a discount of 15.03 per cent at Rs 114.70 on the National Stock Exchange.

On the Bombay Stock Exchange, the scrip witnessed a relatively flat opening, listing 0.88 per cent lower at Rs 133.80.

On the volume front, about 70 lakh shares of the company changed hands on the bourses in the opening trade.

Cantabil Retail India Ltd, which has raised Rs 105 crore through its initial public offer (IPO), had entered the capital markets with a price band of Rs 127- Rs 135 per share. The company had priced its IPO at Rs 135, the upper end of the price band.

Meanwhile, the 30-share benchmark Sensex was trading at 20,223.74, down 116.15 points from the previous close.