Shares of Muthoot Finance debuted at Rs196.60 a piece, up 12.34% from their issue price on the NSE
Muthoot Finance, a non-banking financial company, engaged in the gold loan business, made a strong debut on the National Stock Exchange on Friday, opening with a premium of over 12% vis-a-vis its issue price of Rs175.
Shares of the company debuted at Rs196.60 a piece, up 12.34% from their issue price on the NSE. Within minutes of the trade, the scrip saw some profit booking and was trading at Rs177.15.
On the Bombay Stock Exchange, the scrip debuted at Rs180 a piece over the issue price, reflecting a jump of 2.85%.
In terms of volume, over two crore shares of the company changed hands on the bourses within the first hour of trade. Muthoot Finance had entered the capital market with a price band of Rs160-Rs175 a share under its initial public offer (IPO) of 5.15 crore equity shares.
The company raised Rs901.25 crore through the issue of 5.15-crore equity shares, which will be mainly used to augment its capital base for meeting future capital needs, funding of loans and for general corporate purposes.
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