Share of Angel Broking closed nearly 10% lower to its IPO issue price on its market debut today. The share ended 9.85% or Rs 30.15 lower at Rs 275.85 against issue price of Rs 306 per equity share on BSE today.
However, the share ended 0.31% higher at Rs 275.85 against listing price of Rs 275. Total 8.94 lakh shares of the firm changed hands amounting to turnover of Rs 25.02 crore on BSE. Market cap of the firm stood at Rs 2,256 crore.
On NSE, the stock closed 0.27% lower at Rs 274.25 against listing price of Rs 275. However, the share ended 10.37% lower against IPO issue price of Rs 306 per equity share.
Earlier in the day, the stock made a tepid debut on BSE and NSE. It listed at a discount of 10.13% to its issue price of Rs 306 per equity share on BSE today. The share opened at Rs 275 causing investors loss of Rs 31 or 10.13% compared to IPO price band of Rs 338 to Rs 340 per share. The stock fell 16.33% to intra day low of Rs 256 on BSE.
Angel Broking launched its initial public offer (IPO ) on September 22. Price band of the IPO was fixed at Rs 305 to Rs 306 per equity share. The share sale closed on September 24. The shares have face value of Rs 10 each . Angel Broking raised Rs 600 crore through the share sale which comprised of a fresh issue of Rs 300 crore and offer for sale of Rs 300 crore by promoters and investors.