Indiabulls Power ended at Rs 39 at a sharp 13% discount. The counter clocked heavy volumes of 102.76 million shares on the BSE.
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(Updated at 1137hrs)
Indiabulls Power has recovered significantly from the day's low of Rs 35, but is still trading at a huge discount of over 11% at Rs 40. The counter has now clocked a volume of around 45.45 million shares so far on the BSE.
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Indiabulls Power listed at Rs 44.95 on the BSE this morning as against its issue price of Rs 45.
The stock touched a high of Rs 45.50 but soon tumbled to a low of Rs 35. The stock at 1008 hrs is trading at RS 36.80, down 18.2% when compared to its issue price.
The company's IPO had received and overwhelming response with been subscribed nearly 22 times. The issue had got bids for 60.82 billion shares as against the issue size of 2.79 billion shares.
Qualified institutional investors had subscribed for 40 times while High Networth Individuals (HNI's ) bid for five times the offer. Retail investors had barely subsribed the offer.
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