Shares of Fusion Micro Finance today made a weak market debut, falling over 2 per cent, against the issue price of Rs 368.
The stock made its debut at Rs 360.50, a discount of 2 per cent on the BSE. It later fell 6.25 per cent to Rs 345.
Its market valuation stood at Rs 3,447.61 crore at the BSE.
At the NSE, it began the trade at Rs 359.50, lower by 2.30 per cent from the issue price.
Meanwhile, the broader market was also quoting lower, with the BSE benchmark trading down by nearly 100 points at 61,526.02 at 10.56 hours.
The Initial Public Offering (IPO) of Fusion Micro Finance was subscribed 2.95 times earlier this month.
The Rs 1,104-crore IPO had a price range of Rs 350-368 a share.
The IPO had a fresh issue of up to Rs 600 crore and an offer-for-sale of up to 1,36,95,466 equity shares.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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