Spandana Sphoorty Financial shares fail to shine on debut, end at Rs 855

Market players said the listing day performance was encouraging, considering the IPO had come amid challenging market conditions

Shares of microfinance company Spandana Sphoorty Financial ended at Rs 855, slightly below the issue price Rs 856, on Monday during its stock market debut.

The scrip fell as much as 19.3 per cent to Rs 691 in intra-day trade on the National Stock Exchange (NSE), where shares worth Rs 373 crore changed hands.

Shares worth another Rs 38 crore changed hands on the BSE, where the stock touched a low of Rs 690 and a high of Rs 865.

Spandana’s Rs 1,200-crore initial public offering (IPO) earlier this month had garnered lukewarm response from investors, particularly retail and high-net-worth individuals (HNIs).