Den Networks ends Day 1 at 16% discount

The stock finally ended at Rs 163, down 16.5% from the issue price. The counter clocked volumes of 7.73 million shares on the BSE.
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(Updated at 1019hrs)

Den Networks today listed on the bourses on a flat note at Rs 195 when compared to its issue price of Rs 195.

The stock, however, soon tumbled to a low of Rs 158. The stock is now trading at Rs 164, down almost 16% from its issue price. The counter has seen trades of around 1.4 million shares so far on the BSE.

The company had recently raised up to Rs 410 crore by way of fresh issue of two crore shares to public. The IPO was subscribed 1.04 times on the final day.

Also, the firm had raised around Rs 50 crore via private placement of shares at Rs 205 to anchor investors.