The Hindu Business Line : M&M Financial lists at 12.5% premium

THANKSGIVING: Mr. Anand Mahindra, Chairman, Mahindra & Mahindra Financial Service Ltd, Mr Bharat Doshi (centre), Director, and Mr Shankar Krishna Nirpute, farmer of Shahapur, at the listing ceremony of Mahindra & Mahindra Financial Service Ltd at NSE in Mumbai on Friday. - Shashi Ashiwal

Mumbai , March 17

The Mahindra & Mahindra Financial Services Ltd stock made its debut on the stock exchanges on Friday.

At the listing ceremony, a farmer, who happens to be a rural customer of MMFSL, pressed the button to start the day's trading, along with Mr Anand Mahindra, Vice-Chairman and Managing Director, M&M.

The stock opened at Rs 225, up 12.5 per cent, over the issue price of Rs 200 a share on the NSE. It hit a high of Rs 243.80 and a low of Rs 205.15, before closing at Rs 231. On the BSE, it ended at Rs 233. The stock saw combined volumes of 2.96 crore shares.

The company's IPO, which opened for subscription on February 21, was made through 100 per cent book-building route. The issue received about 2.83 lakh applications and got subscribed 26.88 times.

More Stories on : Financial Services | Stocks | IPOs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
India, Russia to co-operate in nuclear energy

M&M Financial lists at 12.5% premium

Suzlon to buy Belgian co Hansen for Rs 2,511 cr

BSNL floats global tender for 2.5 m CDMA lines

Inflation down on cheaper food prices

NTPC plans to bid for gas blocks under NELP-VI

Nagarjuna Construction up on high expectations

VisualSoft, Applabs, eSolutions merger plan falls through

Rlys to place order for 30,000 wagons

Markets fail to capitalise on early gains

Aditya Birla group goes to Laos, to set up wood pulp plant

AC train fares may see further cuts in July