Archidply Industries ends 32% below IPO price

Archidply Industries has closed at Rs 50.45, down by 32% or Rs 23.55 as against issue price of Rs 74 on the BSE. It has touched an intraday high of 74.55 and low 48.80. The stocks traded with volumes of 1,13,19,833 shares.

On the NSE, the share went down 31.49% or Rs 23.30 to end at Rs 50.70 after hitting a high/low of Rs 72.90 and Rs 48.80, respectively. Traded volumes stood at 91,68,307 shares and turnover at Rs 49.30 crore.

Archidply had opened at Rs 72.90 on the NSE and Rs 74.55 on BSE.

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.