Markets

ICICI Securities falls below issue price on debut

Shares of ICICI Securities, the broking and investment banking arm of ICICI Bank, made a weak debut on the bourses on Wednesday after its public issue failed to get fully subscribed.

On BSE, the shares opened at ₹431.10 - over 17% lower than its issue price of ₹520. At 10:35am, it was trading at ₹460.45.

On the National Stock Exchange (NSE), it was trading at ₹457.75, after making its debut at ₹435.

The initial public offer of the company was subscribed only 0.78 times as the portions reserved for retail and high net worth individuals remained under subscribed with Institutional investors bailing it out.

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Printable version | Mar 27, 2020 8:11:30 PM | https://www.thehindu.com/business/markets/icici-securities-falls-below-issue-price-on-debut/article23431231.ece

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