Shares of Abans Holdings, the financial services arm of the Abans Group, made a muted market debut today and later ended nearly 20 per cent lower against the issue price of Rs 270.
The stock listed at par with the issue price of Rs 270 on the BSE. It finally ended at Rs 216.05, lower by 19.98 per cent.
On the NSE, the stock made its market debut at Rs 273, climbing marginally by 1.11 per cent. It settled at Rs 218.40 apiece, down 19.11 per cent.
The company commanded a market valuation of Rs 1,083.40 crore on the BSE.
The initial public offer of Abans Holdings received 1.10 times subscription last week.
The initial share-sale had a price range of Rs 256-270 a share.
The company operates a diversified global financial services business, providing Non-Banking Financial Company (NBFC) services, global institutional trading in equities, commodities and foreign exchange, private client stockbroking, depositary services, asset management services, investment advisory services, and wealth management services to corporates, institutional and high net worth individual clients.
Currently, it has active businesses in the UK, Singapore, the UAE, China, Mauritius, and India.
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