Indostar Capital Finance stocks ends with 2% gains on stock market debut

On NSE, shares of the company settled at Rs 585, a gain of 2.27 per cent

Shares of Indostar Capital Finance ended with two per cent per cent gains during their stock market debut on Monday.

The stock listed at Rs 600, up 4.9 per cent over its issue price. During the day, it rose to a high of Rs 606.3. It finally ended at Rs 585.50, up 2.4 per cent. On the National Stock Exchange of India (NSE), shares of the company settled at Rs 585, a gain of 2.3 per cent.
 

The company's market valuation stood at Rs 53.36 billion on the BSE.

In terms of equity volume, 2.69 million shares of the company were traded on the BSE and over 10 million shares changed hands on the NSE during the day.

The Rs 18.44 billion initial public offering of non-banking finance company Indostar Capital Finance was subscribed 6.80 times during May 9-11. Price band for the offer was fixed at Rs 570-572 per share.