Archidply Industries debuts below issue price

Archidply Industries has listed at Rs 72.90, down 1.5% over its issue price of Rs 74 per share on the NSE. But negative sentiments have pulled the stock lower to touch a low of Rs 55.35 in early trade.

At 9:58 am, the stock was trading at Rs 57.60, down 22.16%, with volumes of 7,57,792 shares.

On the BSE, the share opened at Rs 74.55, just above issue price. It has hit high and low of Rs 74.55 and Rs 56.10. It was quoting at Rs 57.30, with volumes of 9,56,391 shares.

The company had entered capital market for subscription between June 11 to June 17, 2008 with an initial public offering, IPO of 66,15,720 equity shares of Rs 10 each through 100% book building process. It had subscribed 1.52 times.

Motilal Oswal Investment Advisors Private Ltd was the book running Lead manager. Karvy Computershare Private Ltd was the Registrar to the issue.