New Delhi, Feb 14 (PTI) Shares of Jana Small Finance Bank made a disappointing market debut on Wednesday, closing more than 11 per cent lower on the exchanges against the issue price of Rs 414.
The stock listed at Rs 396 per scrip, a 4.35 per cent discount, on NSE and BSE against the issue price of Rs 414 apiece. During the day, it hit a low of Rs 365 on both bourses.
Finally, the shares of Jana Small Finance Bank settled at Rs 367.50 apiece, 11.23 per cent lower on NSE.
On BSE, the scrip tumbled 11.06 per cent to close at Rs 368.20 per piece.
Meanwhile, the broader market recouped the lost ground and closed with gains on Wednesday.
At the close of the session on BSE, the company’s market valuation stood at Rs 3,851.01 crore.
In volume terms, 55.74 lakh equity shares were traded on NSE, and 2.95 lakh shares changed hands on BSE.
On Wednesday, the 30-share Sensex jumped 267.64 points or 0.37 per cent to close at 71,822.83 points, while NSE Nifty rose 0.45 per cent to settle at 21,840.05 points.
The initial public offering (IPO) of Bengaluru-headquartered Jana Small Finance Bank received 18.50 times subscription on the closing day of the share sale on February 9.
The bank will use the money from the fresh issue to augment its core capital to meet future capital requirements and improve its capital adequacy ratio. PTI HG HG BAL BAL
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