SBI Cards shares fell more than 10% on the first day of trading

New Delhi: Investors of SBI Card IPO have received a major setback on Monday due to fears of worldwide corona virus cases. Its listing was at Rs 658 with a 13% discount and it could not touch its allocation price of Rs 755 even in day trading.

The company’s stock fell 12.84 percent to open at Rs 658 on the BSE. During the business, it trading in the range of Rs 755-658. It finally ended 9.50 percent down at Rs 683.20. Similarly on the NSE, it fell 12.45 percent to open at Rs 661 and closed at Rs 678 with a fall of 10.19 percent.

The IPO of SBI Cards and Payments was subscribed 26 times. A price band of 750 to 755 rupees was kept for the company issue and there was a lot of interest among the investors. There was a good interest in investors regarding this stock in the gray market as well. However, these days the market sentiment is quite poor and meanwhile its listing has disappointed many investors.

Leave a Reply

Your email address will not be published. Required fields are marked *