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    HomeNewsBusinessIPONo takers for PTC Financial on debut, stock nosedives

    No takers for PTC Financial on debut, stock nosedives

    Shares of PTC India Financial Services listed Wednesday with a 4.5% discount on the National Stock Exchange and slipped further 16% to Rs 23.50, which some analysts said was because of high valuations.

    March 30, 2011 / 16:00 IST

    Shares of PTC India Financial Services listed Wednesday with a 4.5% discount on the National Stock Exchange and slipped further 16% to Rs 23.50, which some analysts said was because of high valuations.

    The shares opened at Rs 26.75, compared with its issue price of Rs 28, and at 12:00 hrs the share was traded at Rs 25.50, down about 9%.

    Brokerage Way2Wealth said at Rs 28 a share, the issue was priced at 1.25 times its fiscal year 2013 book value.

    first published: Mar 30, 2011 12:09 pm

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