Avalon Technologies shares fall over 9% in debut trade
On NSE, shares of the firm are listed at par with the issue price at Rs 436. The stock ended at Rs 396 each, a decline of 9.17 per cent.
Shares of Avalon Technologies declined more than 9 per cent against the issue price of Rs 436 in its debut trade on Tuesday.
The stock made its debut at Rs 431, a decline of 1.14 per cent from the issue price on the BSE. During the day, it fell 11 per cent to Rs 387.75. Shares of the company ended at Rs 397.45 apiece, lower by 8.84 per cent.
On NSE, shares of the firm are listed at par with the issue price at Rs 436. The stock ended at Rs 396 each, a decline of 9.17 per cent.
In volume terms, 3.17 lakh shares of the company were traded on BSE and over 47.58 lakh shares on NSE during the day.
Also watch: Avalon Technologies IPO: Zee Business In Conversation With Avalon Tech Management About Company's Outlook
The company commanded a market valuation of Rs 2,595.05 crore.
In the equity market, the 30-share BSE Sensex fell 183.74 points or 0.31 per cent to settle at 59,727.01.
The initial public offer (IPO) of Avalon Technologies was subscribed 2.21 times on the last day of subscription on April 6.
The IPO of up to Rs 865 crore had a price range of Rs 415-436 a share.
Founded in 1999, Avalon is an end-to-end electronic manufacturing service solutions provider. It has 12 manufacturing units located across the US and India.finance-jindal-stainless-just-dial-dow-live-gold-rate-today-rupee-dollar-inr-usd-231013
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Tata Motors, Muthoot Finance and 3 more: Axis Direct recommends buying these stocks for 2 weeks; check targets, stop losses
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
05:42 PM IST