Manpasand Beverages trades near IPO price; stock tank 61% in two week

The stock locked in 5% lower circuit at Rs 174 on the BSE, was 8% away from its issue price of Rs 160, adjusted to 1:1 bonus issue

Manpasand Beverages has locked in lower circuit for the third straight trading day, down 5% at Rs 174 on the BSE, trading close to its initial public offer (IPO) price.

Shares of the fruit juice maker are 8% away from its issue price of Rs 160 (adjusted to 1:1 bonus issue in September 2017). The stock trading at its fresh 52-week low has tanked 61% in past two weeks from Rs 444 on May 23, 2018, against 2.2% rise in the S&P BSE Sensex.

On Sunday, May 27, 2018, Deloitte Haskins & Sells India had quit as the