Shares of Bharat Road Network made a sluggish debut on stock markets today, with the stock listing marginally down compared to the issue price of Rs 205.
The scrip listed at Rs 204.90, down 0.04 from the issue price on BSE. It later touched a high of Rs 218.65 and a low of Rs 196.50.
At NSE, shares of the company debuted flat at Rs 205.
The IPO of Bharat Road Network, a Srei Infrastructure Finance company, was oversubscribed 1.81 times during September 6-8.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.33 times, non-institutional investors 1.63 times and retail individual investors 5.69 times.
Bharat Road Network's over Rs 600 crore IPO had a price band of Rs 195-205 per share.
Inga Capital, Investec Capital Services and Srei Capital Markets managed the company's IPO.
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