AGS Transact Technologies Ltd.'s stock fell below the issue price after listing flat on debut.
The stock listed at Rs 174.5 apiece, a 0.3% discount to its IPO price of Rs 175, according to Bloomberg data. It gained as much as 3.9% and lost as much as 12% to hit an intraday low of Rs 154.5. The scrip ended its first day at Rs 160.5, 8.3% lower.
The omnichannel payment solution provider's initial public offering — the first mainboard offering of the year — was subscribed 8.22 times. The bidding was led by retail and non-institutional investors.
The firm had set a price band of Rs 166-175 apiece and was seeking a market value of Rs 2,106.9 crore at the upper end.
Watch BloombergQuint's IPO Adda With AGS Transact Technologies' Management:
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