Aditya Birla Capital shares list on bourses; slip 5%

Shares of Aditya Birla Capital (ABCL), the financial services company of Aditya Birla Group, got listed on the bourses today and later fell by 5 per cent to hit its lowest trading permissible limit for the day.
At BSE, shares of the company debuted at Rs 261.20. The stock later slipped 5 per cent from the listing price to Rs 248.15 - its lowest trading permissible limit - for the day.
The stock listed at Rs 250 on NSE and later hit a low of Rs 237.50, a loss of 5 per cent from the opening price.
Aditya Birla Group on Wednesday announced the listing of ABCL, formerly known as Aditya Birla Financial Services.

The listing of ABCL is the culmination of the composite scheme of arrangement under which Aditya Birla Nuvo merged with Grasim Industries and the financial services undertaking was subsequently demerged into ABCL, the company had said in a statement.