Shares of Varun Beverages, PepsiCo's largest franchise bottler, made a tepid debut at the bourses today by falling over 3 per cent from the issue price of Rs 445.
The stock listed at Rs 430, down 3.37 per cent, as compared to the issue price on BSE. It later touched the day's low at Rs 417.10, a fall of 6.26 per cent.
On NSE, shares of the company debuted at Rs 430, a loss of 3.37 per cent.
The company commands a market valuation of Rs 8,150.52 crore.
It had fixed the price band at Rs 440-445 per share.
The Rs 1,112.50-crore IPO of Varun Beverages was subscribed 1.86 times.
The public issue was open during October 26-28.
The issue was managed by Kotak Mahindra Capital Company, Axis Capital, CLSA India and YES Securities (India) Ltd.
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