Tata Power had the steepest drop, losing over 64,000 shareholders, followed by Yes Bank, which saw a reduction of 54,000, and Reliance Power with a decline of over 47,000.
A total of 13.95 crore shares were bid for out of 24.28 crore share on offer at a minimum price of Rs 387, as per the data available from stock exchanges at 1300 hours.
R Seshasayee, CEO of Ashok Leyland tells CNBC-TV18 that the overall production of durables might get affected due to people’s restraint on taking credit due to the high rates.