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TCNS Clothing Co, an ethnic women's clothing manufacturer, made its debut on the stock market with a 12% drop on Monday. The shares of the company closed at Rs 665, compared with its IPO price of Rs 716.
ALSO READ: TCNS Clothing IPO subscribed 5.2 times, sees strong demand from investors [19659003] The stock hit a high of Rs 725 and the lowest of Rs 628 on NSE, where shares worth Rs 7.8 billion were traded.
Another Rs of 0.9 billion shares was traded on the BSE, where shares were even lower, at Rs 658. The disappointing beginnings of TCNS occur despite strong demand from institutional investors when selling shares. b, e, v, n, t, s)
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