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Shares of housing finance company Aavas Financiers made a weak debut at the bourses on Monday, plunging 9.5 per cent from the issue price of Rs 821 per share. The stock listed at Rs 758, falling 7.67 per cent from the issue price on BSE.
On NSE, shares of the company debuted at Rs 750, plunging 9.46 per cent against the issue price. In terms of equity volume, 3.17 lakh shares of the company changed hands on BSE and over 22 lakh shares were traded on NSE during morning trade.
Aavas Financiers’ Rs 1,734 crore initial public offer ran from September 25 to September 27, and was subscribed 97 per cent. The price band for the offer was fixed at Rs 818-821 per share.
ICICI Securities Ltd, Citigroup Global Markets India Pvt Ltd, Edelweiss Financial Services Ltd, Spark Capital Advisors (India) Pvt Ltd and HDFC Bank Ltd were the book-running lead managers to the issue.
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