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Macrotech Developers makes weak market debut, lists at 10% discount

Macrotech's IPO got decent subscription as the issue was subscribed 1.36 times

real estate, realty, developers, buildings, construction, flats, housing, house, homes, market, cement
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Margins in middle-income housing have fallen from 30-40 per cent to sub 20 per cent levels, experts say. Photo: PTI

SI Reporter Mumbai
Shares of Macrotech Developers (MDL) made a weak debut on the bourses, on Monday, with stock listing at Rs 439, a 10 per cent discount from its issue price of Rs 486 per share. The stock listed at Rs 436 on the National Stock Exchange (NSE).  Post listing, the stock hit a high of Rs 463.70 and a low of Rs 421 on the BSE.

At 10:04 am, MDL was trading at Rs 450.80, up 3 per cent from its opening level and 7 per cent down against issue price on the BSE. A combined 1.4 million equity shares