Mishra Dhatu Nigam lists 3% below issue price; ends flat

The stock listed at Rs 87, a 3.3% lower against issue price of Rs 90 on the National Stock Exchange and the BSE

Mishra Dhatu Nigam (MDNL) has made a weak debut by listing at Rs 87, a 3.3% lower against issue price of Rs 90 on the National Stock Exchange (NSE) and the BSE (Bombay Stock Exchange). However, the stock moved higher to Rs 90.90 after its listing.

It ended flat at Rs 90 on the NSE. A combined 3.6 million shares changed hands on the counter on the NSE and BSE so far.

The Rs 4,384 million initial public offer (IPO) of MDNL was subscribed 1.21 times. The IPO received bids for 59 million shares against offered of 48.7