Quick Heal makes weak debut; plummets 21 pct
|
18 Feb 2016
|
|
IT security solutions provider Quick Heal Technologies made a forgettable debut on the bourses as its shares plunged nearly 21 per cent in their first trading session on Thursday, highlighting a tough market for IPOs. The company, which raised Rs 451 crore via its initial public offer (IPO), was listed at Rs 304.95 on the Bombay Stock Exchange (BSE), a 5 per cent discount to the issue price of Rs 321. Shares of the computer security software provider touched a high of Rs 329.95 and low of Rs 246.00 intra-day in an otherwise bullish market. After making a flat opening, selling intensified in the final hour of day’s trade as the stock plunged 23.36 per cent to touch the day’s low of Rs 246.00. Paring some of losses, shares of company ended day’s trade at Rs 254.45 apiece, down 20.73 per cent on the Bombay Stock Exchange. In a similar trend, stocks of the company settled 17.97 per cent lower at Rs 250.20 apiece on National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex closed Thursday’s trade at 23,649.22, up 267.35 points, or 1.14 per cent, on BSE. |
| Source: Dion Global Type: IPO Related |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback