Microsec Financial Services falls below IPO price

Settles at Rs 110.90 on BSE

Microsec Financial Services settled at Rs 110.90 on BSE, a 6.01% discount to the initial public offer price of Rs 118.



The stock debuted at Rs 135.10, a 14.49% premium over its issue price of Rs 118 per share. The stock hit a high of Rs 141 and low of Rs 108.30.

The counter saw a volume of 1.69 crore shares on the BSE.

The initial public offering (IPO) of the Microsec Financial Services was subscribed 12.20 times. The company had priced its IPO at the top end of the Rs 113-118 per share price band.

Microsec Financial Services tapped the primary market to expand its financing business and network of branches, enhance technological capacity, and for general corporate purposes

Kolkata-based Microsec Financial Services is a non-banking financial company registered with the Reserve Bank of India. It provides financing and investment, investment banking, broking and wealth management, insurance broking, financial planning and related services.