Metro Brands debuts on a weak footing, lists 13% below its issue price

The stock listed at Rs 436 on the BSE and Rs 437 on the NSE, a 13 per cent below its issue price of Rs 500 per share.

Rakesh Jhunjhunwala-backed Metro Brands has made a weak market debut, with its shares listed at Rs 436, a 13 per cent below its issue price of Rs 500 per share on the BSE. On the National Stock Exchange (NSE), the stock has opened at Rs 437 per share.

At 10:01 am, Metro Brands traded at Rs 445.50, 11 per cent lower versus the issue price on the BSE. The stock had hit a high of Rs 449 and a low of Rs 426 in intra-day trade so far on the BSE and NSE. A combined 3.7 million equity shares