Ethos shares sink 9% over issue price on debut, 1.1 mn shares change hands

The poor listing day performance follows lukewarm response to the company's IPO, which had managed to scrape through with just 1.03% subscription

Luxury watch retailer Ethos’ had a disappointing stock market debut with its stock finishing nearly 9 per cent below its issue price. Shares of the company closed at Rs 803, down Rs 75, or 8.6 per cent, over the IPO price of Rs 878. The stock hit a high of Rs 840 and a low of Rs 774 on the BSE.

The poor listing day performance follows lukewarm response to the company’s initial public offering (IPO), which had managed to scrape through with just 1.03 per cent subscription. The retail investor portion of the issue was subscribed 82 per cent,