Shriram Properties makes a weak debut, lists 24% below issue price

Shares of Shriram Properties were listed at Rs 90, a 24 per cent discount to its issue price of Rs 118 per share on the National Stock Exchange

Shriram Properties (SPL) has made a weak stock market debut, with its shares listed at Rs 90, a significant 24 per cent discount to its issue price of Rs 118 per share on the National Stock Exchange (NSE). The stock opened at Rs 94, a 20 per cent lower against its issue price on BSE.

At 10:01 am; SPL traded at Rs 94.35 on the BSE. It hit high of Rs 97 and a low of Rs 91.75 in intra-day trade so far. A combined 5.8 million equity shares changed hands at the counter on the NSE and BSE.