S Chand Slips Further On Fourth Straight Day

The fourth trading day for the S Chand and Company Limited is also showing weakness on the bourses. The stock has slipped further to the low of Rs 630.1 per share down by around 5.7% as against its issue price.

On the first three days of trading, the stock witnessed nearly 24% of deliverable quantity as compared to the traded quantity on NSE.

As per the data available with the Bombay Stock Exchange (BSE), S Chand and Company Limited got listed on the exchanges on Tuesday with a premium of 5.52% at Rs 707 per share.

On National Stock Exchange, the shares of the company got listed at Rs 700 per share, up by 4.48% as compared to its issue price. The IPO issue had received a huge response and it was oversubscribed by 59.49 times.

As per the data available with the National Stock Exchange (NSE), the S Chand IPO issue got oversubscribed by the 44.72 times by the qualified institutional buyers, 204.65 times by the non-institutional investors and 6 .07 times by the retail individual investors. The company had raised nearly Rs 219 Cr from the anchor investors.

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About Suhani Varma

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