GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

New India Assurance Debuts on Stock Market, Down 7.8% After Two Hours of Trading

NIA shares opened at Rs 750, a discount of Rs 50 or 6.25 percent, compared to the issue price of Rs 800. The price band was Rs 770-800 per share. At 11 am, the scrip was trading at Rs 737.30 on the BSE, down 7.84% from its issue price.

News18.com

Updated:November 13, 2017, 11:01 AM IST
facebookTwittergoogleskypewhatsapp
New India Assurance Debuts on Stock Market, Down 7.8% After Two Hours of Trading
Image for representation. (Getty Images)
Mumbai: The country's largest general insurance firm New India Assurance Company, which recently concluded its initial public offer, debuted bears on the bourses on Monday.

NIA shares opened at Rs 750, a discount of Rs 50 or 6.25 percent, compared to the issue price of Rs 800. The price band was Rs 770-800 per share. At 11 am, the scrip was trading at Rs 737.30 on the BSE, down 7.84% from its issue price.

The Rs 9,600-crore IPO of the firm was oversubscribed 1.19 times during November 1-3.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.34 times, non-institutional investors 12 percent and retail investors 11 percent, according to data available with the NSE.

The price band for the offer was set at Rs 770-800 per equity share.

Kotak Mahindra Capital Company, Axis Capital, Nomura Financial Advisory and Securities (India) Private Limited, IDFC Bank Limited and YES Securities were the books running lead managers to the offer.

New India Assurance has assets of over Rs 69,000 crore and has been growing at CAGR of over 15 percent for the last five years.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Life 344.40 +54.40 +18.76
SBI 337.50 +4.10 +1.23
HDFC 1,705.50 +41.10 +2.47
ICICI Bank 325.10 +6.15 +1.93
Bank of Baroda 183.55 +0.75 +0.41
Company Price Change %Gain
HDFC Life 343.70 +53.70 +18.52
ICICI Bank 325.10 +5.95 +1.86
SBI 337.40 +3.95 +1.18
Rain Industries 329.75 -17.35 -5.00
PNB 190.70 +1.25 +0.66
Top Gainers
Company Price Change %Gain
Tata Power 88.95 +4.15 +4.89
Cipla 608.55 +15.70 +2.65
HDFC 1,705.50 +41.10 +2.47
Maruti Suzuki 8,348.35 +184.65 +2.26
Tata Steel 701.20 +14.85 +2.16
Company Price Change %Gain
Cipla 608.65 +15.65 +2.64
HDFC 1,701.00 +37.05 +2.23
Maruti Suzuki 8,340.70 +175.20 +2.15
Tata Steel 701.35 +14.70 +2.14
Tata Motors 421.45 +7.95 +1.92
Top Losers
Company Price Change %Gain
Tech Mahindra 484.55 -15.35 -3.07
Infosys 970.95 -17.45 -1.77
Bosch 18,965.90 -292.55 -1.52
TCS 2,707.30 -39.35 -1.43
HCL Tech 840.00 -11.90 -1.40
Company Price Change %Gain
Infosys 970.95 -17.65 -1.79
TCS 2,710.10 -36.50 -1.33
ONGC 177.50 -1.85 -1.03
Wipro 294.75 -2.90 -0.97
Asian Paints 1,171.10 -8.95 -0.76

Live TV