Shares of defence company Bharat Dynamics made a weak debut at the bourses today and settled with a sharp loss of nearly 9 per cent from the issue price of Rs 428.
The stock listed at Rs 360, a sharp fall of 15.88 per cent from the issue price, on BSE. It finally ended at Rs 390.70, down 8.71 per cent.
On NSE, shares of the company slumped 8.92 per cent to close at Rs 389.80.
In terms of equity volume, 6.03 lakh shares of the company were traded on BSE and over 39 lakh shares changed hands on NSE during the day.
The company's market valuation stood at Rs 7,160.80 crore.
Initial public offer of the firm was open during March 13-15 and was subscribed 1.30 times.
The price band for the issue was fixed at Rs 413-428.
SBI Capital Markets, IDBI Capital Markets & Securities and YES Securities (India) managed the issue.
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