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Our Bureau

Mumbai, Nov. 24 The shares of cable television firm, Den Networks, closed at Rs 160.35, down almost 18 per cent from its issue price of Rs 195 on the first day of its listing on Tuesday.

The stock opened at Rs 195 on both the BSE and the NSE. On the BSE, it touched an intraday high of Rs 197.9 and on the NSE at Rs 199.8. It registered an intraday low of Rs 149.5 on both the exchanges.

A total of 1.79 crore shares of Den Networks were traded on both the NSE and BSE, making for a total turnover of Rs 288.47 crore.

The company’s Rs 410-crore IPO was subscribed 1.04 times.

The IPO proceeds would be used to fund the company’s infrastructure and services expansion and acquisition of content and broadcasting rights among others.

Meanwhile, BSE said it has decided to include Den Networks in the BSE IPO Index. The inclusion would be from November 26, the exchange said in a release here.

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