Manpasand Beverages shares edge higher after weak debut

Erasing all its sharp initial losses, shares of fruit drinks maker Manpasand Beverages ended over 2 per cent higher on the listing day.
After falling 10.62 per cent to Rs 286 during intra-day trade on the BSE, shares of the company later recouped the losses and finally ended at Rs 326.85, up 2.14 per cent over its issue price of Rs 320.
The stock listed at Rs 291, reflecting a sharp fall of 9 per cent, as compared to the issue price on the BSE.
At the NSE, shares of Manpasand settled with a gain of 2.42 per cent at Rs 327.75. The stock debuted at Rs 300, down 6.25 per cent on the exchange.

On the volume front, 15.78 lakh shares of the company changed hands at the BSE and over 48 lakh shares were traded at the NSE during the day.
The initial public offer of Manpasand was over-subscribed 1.40 times last month.

The Gujarat-based firm, the eighth company to launch an IPO this year, had set a price band of Rs 290-320 for the issue.
Manpasand, the maker of 'Mango Sip' and other fruit drinks, has manufacturing plants in Vadodara, Dehradun and Varanasi.
Meanwhile, in the broader market, the BSE barometer Sensex ended 114.06 points down at 27,573.66.