Shares of recently listed companies, Home First Finance Company, Heranba Industries, Brookfield India Real Estate Trust REIT and Nureca hit their respective lows since listing on the bourses. These stocks were down between 2 per cent and 8 per cent on the BSE in the intra-day trade on Monday. In comparison, the S&P BSE Sensex was down 1.7 per cent at 49,925 points at 02:04 pm.
Shares of agrochemicals company Heranba Industries, for instance, slipped 7 per cent to Rs 708 on the BSE. With today’s fall, the stock has declined 25 per cent from its listing day high of Rs 945 hit on March 5, 2021. The stock had made a strong debut at Rs 900, a 43.5 per cent premium against the issue price of Rs 627 per share.
Shares of Home First Finance Company India ended at Rs 527.4, with a gain on less than 2 per cent over its issue price of Rs 518 during their stock market debut on Wednesday. The stock, however, gained as much as 23 per cent in intra-day trade. It touched a high of Rs 640 and a low of Rs 522 on the NSE, where Rs 1,445 crore worth of shares changed hands. Home First’s Rs 1,150-crore IPO last month had garnered 27 times subscription. The company, backed by private equity major Warburg Pincus, is mortgage lender focused on low and middle-income groups. At its last close, the Home First was valued at Rs 4,609 crore. Through the IPO, the company raised fresh equity capital of Rs 265 crore.