Capital Small Finance Bank Plunges 7% in Debut Trade
Feb 14, 2024 21:14
Shares of Capital Small Finance Bank plunged over 7% in its debut trade on Wednesday, closing at Rs 434.30 per share on the BSE and Rs 437 on the NSE. The stock's initial public offering was oversubscribed 4 times earlier this month.
New Delhi, Feb 14 (PTI) Shares of Jalandhar-based Capital Small Finance Bank plunged more than 7 per cent in debut trade on Wednesday against the issue price of Rs 468.
The stock of the company made its debut at Rs 435, down 7 per cent from its issue price on the BSE. During the day, it hit a low of Rs 421.10 apiece and later it ended 7.20 per cent lower at Rs 434.30 per piece.
On the NSE, shares of Capital Small Finance Bank started the trade at Rs 430.25, lower by 8.07 per cent. Finally, it settled at Rs 437, down by 6.62 per cent.
Meanwhile, the broader market recouped the lost ground and closed with gains on Wednesday.
At the close of the session, the company's market valuation stood at Rs 1,956.20 crore on the BSE.
In volume trade, 31.03 lakh equity shares were traded on the NSE, while 1.80 lakh shares were traded on the BSE, during the day.
On Wednesday, the 30-share Sensex jumped 267.64 points or 0.37 per cent to close at 71,822.83 points while NSE Nifty rose 0.45 per cent to settle at 21,840.05 points.
The initial share sale of Capital Small Finance Bank was subscribed 4 times earlier this month.
The Jalandhar-based bank, which began operations in 2016 after converting itself from a local area bank, has a 24 per cent stake owned by the promoter family led by Sarvjit Singh Sarma and his family.
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