The stock of Repco Home Finance made its debut on a weak note on the bourses on Monday. After opening weak at Rs 159.95 on the NSE, the scrip ended at Rs 164.70, down 4.24 per cent. The stock had tanked 8.13 per cent to Rs 158 intra-day. against the listing price of Rs 172.
Repco Home Finance’s scrip today closed below its issue price of Rs 172, falling over 6 per cent on debut trade.
After making a weak opening in an overall lacklustre market, shares of the company tanked 8.11 per cent to Rs 158.05, against the issue price in intra—day trade on the BSE.
It finally ended at Rs 160.85, down 6.48 per cent.
However, the BSE Sensex and the Nifty gained about 0.5 per cent.
The issue managed to scrape through during the closing hours of the IPO window after eliciting a lukewarm response on first two days. The issue got subscribed 1.65 times finally.
The IPO had received bids for 2.21 crore shares as against an offer of 1.34 crore shares.
Promoted by the Government of India enterprise Repco Bank Ltd, Repco Home Finance raised about Rs 270 crore through the issue.
It fixed a price band of Rs 165-172 a share by issuing 1.57 crore equity shares at a face value of Rs 10.
Earlier, the professionally managed housing finance company had allocated 23.31 lakh shares to anchor investors at Rs 172 a share, raising about Rs 40.1 crore.
The anchor investors include Goldman Sachs, Birla Sun Life, Reliance Capital, Nomura India Investment Fund Mother Fund, Citigroup Global Markets Mauritius, Sundaram Mutual Fund, ICICI Prudential Banking and Financial Services Fund and Franklin Templeton Mutual Fund.
According to lastest shareholding pattern available with the exchanges, First Carlyle holds 14.45 per cent stake, WCP Holdings 9.96 per cent, Credator LLC 7.46 per cent and Bajaj Allianz Life and SBI Magnum Balance Fund have an exposure of 1.77 per cent and 1.43 per cent respectively.