Aavas Financiers Ltd. debuts with 7.67% discount at Rs 758.00
08/10/2018 22:10
Aavas Financiers Ltd. makes a weak debut on the bourses with scrip got listed at Rs 758.00 on the Bombay Stock Exchange, a 7.67 per cent discount to its issue price of Rs 821.00. On the National Stock Exchange, the stock was listed at Rs 750.00.

The company, which raised 2.11 Cr from initial public offering, was subscribed 0.97 times, receiving bids for 204.88 lakhs shares against the total issue size of 211.21 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Sep 25 to Sep 27.

Following a weak opening, the scrip touched an intraday high of Rs 787.50 and a low of Rs 710.00, before closing the session up by 5.82 per cent to its listing price at Rs 773.15 on the BSE.

The company anticipates using the proceeds of the issue for .

Edelweiss Financial Services Ltd.,Spark Capital Advisors (India) Pvt. Ltd.,HDFC Bank Ltd.,Citigroup Global Markets India Pvt. Ltd.,ICICI Securities Ltd as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 34,474.38, up 97.39 points, or 0.28 per cent.