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Shares of MSTC Ltd fell more than 13 per cent on their market debut on Friday after the state-owned scrap metals trading firm's initial public offering raised Rs 226 crore ($32.69 million).
The stock was trading at Rs 116.40, after touching a low of Rs 111, compared with the IPO price's higher end of Rs 128. The offering was subscribed around 1.5 times on the last day of sale earlier this month.
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