Fusion MicroFinance debuts on a weak note; sheds 9% against issue price

The stock tumbled over 9 per cent to Rs 334.40 as against the issue price of Rs 368 per share on the BSE and the NSE in morning trade on Tuesday.

Fusion Micro Finance (FMFL) has made a weak stock market debut  with its shares falling over 9 per cent to Rs 334.40 when compared with its issue price on the BSE and the National Stock Exchange (NSE) on Tuesday.

The stock listed at Rs 360.50, down 2 per cent as against its issue price of Rs 368 per share on the BSE. On the NSE, it opened at Rs 359.50, the exchange data shows.

At 11:40 am, FMFL traded at Rs 335.55, down 8.8 per cent from its issue price, as compared to 0.15 per cent decline in the S&P