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Nov 13, 2017 10:05 AM IST | Source: Moneycontrol.com

New Listing: New India Assurance debuts at Rs 750, a discount of over 6%

The new entrant’s initial public offering (IPO), which sought to raise Rs 9,600 crore, was oversubscribed around 1.19 times. The price band was Rs 770-800 per share.

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Shares of New India Assurance listed at Rs 750, a discount of Rs 50 or 6.25 percent, on the exchanges on Monday.

The new entrant’s initial public offering (IPO), which sought to raise Rs 9,600 crore, was oversubscribed around 1.19 times. The price band was Rs 770-800 per share.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.34 times, non-institutional investors 12 percent and retail investors 11 percent, according to data available with the NSE.

Kotak Mahindra Capital Company, Axis Capital, Nomura Financial Advisory and Securities (India) Private Limited, IDFC Bank Limited and YES Securities were the books running lead managers to the offer.
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