Business News
Hindustan Aeronautics stock falls 5% in trading debut
Shares of Hindustan Aeronautics made a tepid debut at the bourses today, falling more than 5 % over its issue price of ₹ 1,215.
The scrip listed at Rs 1,169, a loss of 3.78 % on BSE.
At NSE, shares of the company opened the day at ₹ 1,152, falling 5.18 % from the issue price.
In terms of equity volume, 1.15 lakh shares were traded on BSE and over 9 lakh shares changed hands at NSE during the morning trade.
The company’s market valuation stood at ₹ 38,969.52 crore.
The IPO of the Bengaluru-based firm was open during March 16-20 and was subscribed 99 %.
The state-owned firm’s IPO was for 34,107,525 shares. The price band for the offer was fixed at ₹ 1,215-1,240 per share.
