Quick Heal slumps further; down over 30% against IPO price
The stock tanked 17% to Rs 209 on the NSE in intra-day trade.
 "Quick Heal slumps further; down over 30% against IPO price")
Shares of Quick Heal Technologies have tanked 17% to Rs 209, its lowest level since listing on the National Stock Exchange (NSE) in last week.
The Pune-based antivirus firm which had a weak debut on the exchanges on February 18, has fallen 35% compared to its IPO (Initial Public Offering) price of Rs 321 per share.
Investors have lost one-third of their investments in first four trading sessions. Quick Heal Technologies had raised Rs 451 crore by issuing 14.06 million equity shares through IPO, currently valued at Rs 295 crore.
The stock was continued under pressure since its listing due to disclosure-related allegations against the company and on concerns over higher service-tax liability. CLICK HERE TO READ FULL REPORT.
At 12:59 PM, the stock was down 12% at Rs 221 on the NSE. A combined 6.33 million shares changed hands on the counter on the NSE and BSE.
The Pune-based antivirus firm which had a weak debut on the exchanges on February 18, has fallen 35% compared to its IPO (Initial Public Offering) price of Rs 321 per share.
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Investors have lost one-third of their investments in first four trading sessions. Quick Heal Technologies had raised Rs 451 crore by issuing 14.06 million equity shares through IPO, currently valued at Rs 295 crore.
The stock was continued under pressure since its listing due to disclosure-related allegations against the company and on concerns over higher service-tax liability. CLICK HERE TO READ FULL REPORT.
At 12:59 PM, the stock was down 12% at Rs 221 on the NSE. A combined 6.33 million shares changed hands on the counter on the NSE and BSE.