2 weeks ago
LEAP India shares debut nearly 9% below issue price
LEAP India is a company that helps other businesses share things like pallets and boxes for moving goods.
On Friday, its shares were sold to the public for the very first time on the stock market.
This first day of selling shares is called a market debut.
The company planned to sell each share for Rs 159.
At first, people were excited and paid a little more for the shares.
The stock opened at Rs 166 on one big stock exchange.
But soon the excitement faded, and the share price started going down.
It sank as low as Rs 143.10 during the day.
By the end of the day, the shares were worth about Rs 145, which is less than the starting price.
That means the debut ended about 9% below the issue price.
LEAP India Ltd shares listed on the BSE at Rs 166, a 4.40% premium over the Rs 159 issue price.
The stock closed at Rs 145.10 on the BSE, down 8.74% from the issue price, after giving up early gains.
During the session, the share fell 10% to an intraday low of Rs 143.10.
On the NSE, the stock listed at Rs 165.90 (a 4.33% premium) and ended at Rs 144.93, down 8.84%.
The supply chain asset pooling firm's market debut on Friday ended nearly 9% below the issue price.
- Who
- LEAP India Ltd, a supply chain asset pooling firm
- What
- Its shares debuted on the stock market and closed nearly 9% below the Rs 159 issue price after early gains faded
- Where
- On the BSE and NSE stock exchanges in India
- When
- Friday
- Why
- The stock failed to carry forward its initial momentum after listing at a premium
Key facts
- Company
- LEAP India Ltd
- Business
- Supply chain asset pooling
- Issue price
- Rs 159
- BSE listing price
- Rs 166 (+4.40%)
- BSE closing price
- Rs 145.10 (-8.74%)
- NSE listing price
- Rs 165.90 (+4.33%)
- NSE closing price
- Rs 144.93 (-8.84%)
- Intraday low
- Rs 143.10 (-10%)
