Continuing the trend of poor listing-day gains, shares of ICICI Securities plunged 14.4 per cent, while those of PSU speciality alloy-maker Mishra Dhatu Nigam (Midhani) settled at the issue price of ₹90.
Shares of ICICI Securities, which was forced to cut down the IPO size due to poor response, closed at ₹445.05 on the BSE, down 14.41 per cent over its issue price of ₹520. In fact, the stock got listed at ₹431.1.
The company had raised ₹3,515 crore (against its earlier target of ₹4,016 crore) from its recently concluded initial public offer (IPO).
PSU banks sell Midhani
Shares of Midhani, which got listed at ₹87 on the BSE, touched a high of ₹90.9. The ₹438-crore IPO of the alloy-maker was subscribed 1.21 times.
According to bulk deal data on the NSE, Canara Bank sold about 9.7 lakh shares of Midhani at an average price of ₹89 on the NSE, while Union Bank of India sold 10 lakh shares at ₹90.03. The shares of HAL, which opened on a tepid note last week, is ruling at ₹1,112.25 on the BSE, well below the IPO price of ₹1,240.