Shares of Equitas Small Finance Bank on Monday debuted with a 6 per cent discount against its issue price of Rs 33 and finally closed nearly 1 per cent lower.
The stock listed at Rs 31, a decline of 6 per cent against the issue price on the BSE. During the day, it touched a high of Rs 33.05 and a low of Rs 30.10. It finally closed the day at Rs 32.75, 0.75 per cent lower.
On the NSE, it debuted at Rs 31.10, falling 5.75 per cent from the issue price. The stock closed at Rs 32.80, a drop of 0.60 per cent.
The Rs 517-crore initial public offer of Equitas Small Finance Bank was subscribed 1.95 times last month. The price range for the company’s IPO was fixed at Rs 32-33 per share.
The company's market valuation was at Rs 3,727.77 crore on the BSE during the close of trade.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.