Abans Holdings makes disappointing debut; tanks 19% below its issue price

The stock fell to a low of Rs 218.65 on the BSE, down 19% when compared with its issue price of Rs 270 per share.

Abans Holdings made a disappointing debut on the bourses, with shares of the company sliding as much as 19 per cent below its issue price of Rs 270 per share to Rs 218.65 on the BSE on Friday. The stock of holding company listed at par on the BSE, while opened 1 per cent higher at Rs 273 on the National Stock Exchange (NSE) against its issue price.

At 10:26 AM; Abans Holdings traded at Rs 228.95, a 15 per cent discount to its issue price. In comparison, the S&P BSE Sensex was down 1 per cent at 60,168.