General Insurance Corp scrip dips 4.5% in debut trade
25 Oct 2017 11:13 PM IST
New Delhi: Shares of General Insurance Corporation of India made a disappointing debut at the bourses on Wednesday, falling 4.5 per cent against the issue price of Rs 912.
The stock got listed at Rs 850, down 6.79 per cent from the issue price on BSE. During the day, it tumbled 14.44 per cent to Rs 780.25. It finally ended 4.56 per cent lower at Rs 870.40.
On NSE, shares of the company closed with a loss of 4.13 per cent at Rs 874.30.
In terms of equity volume, 43.82 lakh shares of the company were traded on BSE and over two crore shares changed hands on NSE during the day.
The company's market valuation stood at Rs 76,351.49 crore. GIC Re's IPO was oversubscribed 1.38 times during October 11-13.
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