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MSTC shares fall 5% on debut over lukewarm response to IPO

Shares of MSTC ended at Rs 113.8 compared to its IPO price of Rs 120 per share

IPO
Illustration: Ajay Mohanty

Shares of state-owned MSTC fell 5 per cent during their stock market debut on Friday. The weak listing followed lukewarm response to the Rs 225-crore initial public offering (IPO).  Shares of MSTC closed at Rs 114.2, compared to its IPO price of Rs 120 per share. The stock touched a low of Rs 111 during intra-day trade on the NSE, where nearly Rs 5 crore worth of shares were traded. Another Rs 86 lakh worth of shares changed hands on the BSE, where the stock touched a low of Rs 110 and a high of Rs 117. At the current market rate, MSTC is valued at Rs 804 crore. The ...