Shares of Shriram Properties Limited underperformed in the stock markets
New Delhi:
Shares of Shriram Properties Ltd on Monday got listed at a discount of nearly 24 per cent against its issue price of Rs 118 and closed down over 16 per cent.
The stock listed at Rs 94 on the Bombay Stock Exchange (BSE), down 20.33 per cent from the issue price. During the day, it closed at Rs 91.75, down 22.24 per cent. It closed at Rs 99.40 with a discount of 15.76 per cent.
On the National Stock Exchange (NSE), it started at Rs 90 with a discount of 23.72 per cent. It closed at Rs 98.90, down 16.18 per cent.
In terms of trading volume, 23.43 lakh shares were traded on the BSE and over 3 crore units were traded on the NSE during the day.
The company’s market valuation stood at Rs 1,686.06 crore.
The initial share sale of Shriram Properties was subscribed 4.60 times on the last day of the offering earlier this month.
The price band of the realty player for the offer was Rs 113-118 per share.
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