Garden Reach Shipbuilders & Engineers shares make weak debut; slump over 13% to Rs 102.50 from issue price of Rs 118


New Delhi: Shares of Backyard Attain Shipbuilders & Engineers made a weak debut on the bourses Wednesday, plunging over 13 p.c from the difficulty value of Rs 118 per share.

The inventory listed at Rs 104, falling 11.86 p.c from the difficulty value on BSE.

Representational picture. Reuters.

At NSE, shares of the corporate debuted at Rs 102.50, plunging 13.13 p.c as in comparison with the difficulty value.

When it comes to fairness quantity, 3.54 lakh shares of the corporate have been traded on BSE and over 18 lakh shares modified arms at NSE through the morning commerce.

The corporate’s Rs 345-crore preliminary public provide ran from 24 September – 1 October as the difficulty closure date was prolonged.

Additionally, the worth band for the provide was revised from Rs 115-118 per share to Rs 114-118 per share.

IDBI Capital Markets & Securities and YES Securities have been the ebook working lead managers to the provide.

Backyard Attain is a shipbuilding firm underneath the executive management of the Defence Ministry.

It has additionally constructed India’s first indigenous warship — the INS Ajay — in 1961, as per the corporate’s web site.



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