Repco Home Finance has opened at Rs 160, a 7% discount against its issue price of Rs 172 per share on the National Stock Exchange (NSE). The stock is currently trading at Rs 169 and hit a high of Rs 172 so far. Around 500,000 shares have changed hands on the counter on NSE till 1007 hours.
The state-owned Repco Home Finance has raised Rs 270 crore by issuing 15.7 million equity shares in its initial public offer (IPO). The price band for the issue was at Rs 165 to Rs 172 a share.
The proceeds of the issue would be utilised towards augmentation of capital base, which would result in rise in net worth coupled with meet future capital adequacy requirements.
Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank (Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.
The state-owned Repco Home Finance has raised Rs 270 crore by issuing 15.7 million equity shares in its initial public offer (IPO). The price band for the issue was at Rs 165 to Rs 172 a share.
The proceeds of the issue would be utilised towards augmentation of capital base, which would result in rise in net worth coupled with meet future capital adequacy requirements.
Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank (Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.
