Shares of Hindustan Aeronautics made a tepid debut at the bourses today, plunging more than 7 per cent over its issue price of Rs 1,215.
The stock opened the day at Rs 1,169, down 3.78 per cent from the issue price on BSE. Intra-day, it dropped 8 per cent to Rs 1,117.60. Shares of the company finally ended at Rs 1,128.35, a loss of 7.13 per cent.
On NSE, shares of the company slumped 6.76 per cent to close at Rs 1,132.85.
In terms of equity volume, 2.17 lakh shares of the company were traded on BSE and over 16 lakh shares changed hands at NSE during the day.
The company's market valuation stood at Rs 37,730.61 crore.
The IPO of the Bengaluru-based firm was open during March 16-20 and was subscribed 99 per cent.
The state-owned firm's IPO was for 34,107,525 shares. The price band for the offer was fixed at Rs 1,215-1,240 per share.
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