New India Assurance shares list at over 6% discount at Rs 749 against issue price of Rs 800

New Delhi: Shares of New India Assurance Company made a sluggish debut at bourses on Monday, falling over 6 percent against the issue price of Rs 800. The stock listed at Rs 748.90, down 6.38 percent, compared to the issue price on the BSE.

Representational image.

Representational image.

At the NSE, shares of the company debuted at Rs 750, a loss of 6.25 percent from the issue price. In terms of equity volume, 3.14 lakh shares of the company were traded on the BSE and over 19 lakh shares changed hands at the NSE during the morning trade.

The Rs 9,600-crore IPO was oversubscribed 1.19 times during November 1-3.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.34 times, non-institutional investors 12 percent and retail investors 11 percent, according to data available with the NSE.

The price band for the offer was set at Rs 770-800 per share. Kotak Mahindra Capital Company, Axis Capital, Nomura Financial Advisory and Securities (India) Private, IDFC Bank and YES Securities were the book running lead managers to the offer.

New India Assurance has assets of over Rs 69,000 crore and has been growing at a CAGR of over 15 percent for the last five years.

Updated Date: Nov 13, 2017 14:28 PM

Also Watch

Watch: The true stories from Dharavi that inspired Rajinikanth's Kaala
  • Thursday, March 8, 2018 Watch: Cyrus Khan talks about Parkour, jumping across walls and why he hates sitting
  • Thursday, May 31, 2018 Unwind: India's basketball sensation Amjyot Singh has his eyes set on becoming an NBA regular
  • Monday, May 28, 2018 First Day First Showsha — Review of Solo: A Star Wars Story in 10 questions
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See