ManagementIndiabulls Power ends at 13% discount
Indiabulls Power ended at Rs 39 at a sharp 13% discount. The counter clocked heavy volumes of 102.76 million shares on the BSE.
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- Indiabulls Power IPO rate likely to be Rs 45 - Indiabulls Power IPO subscribed 17 times - Indiabulls Power IPO subscribed 8.49 times - Are retail investors turning upbeat on IPOs? - Indiabulls Power IPO subscribed 5.8 times - Indiabulls Power IPO subscribed 6 times on Day 1
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The stock touched a high of Rs 45.50 but soon tumbled to a low of Rs 35. The stock at 1008 hrs is trading at RS 36.80, down 18.2% when compared to its issue price.
The company"s IPO had received and overwhelming response with been subscribed nearly 22 times. The issue had got bids for 60.82 billion shares as against the issue size of 2.79 billion shares.
: Retail investors give IPOs the cold shoulder
Qualified institutional investors had subscribed for 40 times while High Networth Individuals (HNI"s ) bid for five times the offer. Retail investors had barely subsribed the offer.