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Macrotech Developers shares tumble over 10% in debut trade

The stock listed at Rs 439, registering a decline of 9.67 per cent from the issue price on BSE. It further tumbled 13.34 per cent to Rs 421.15.

By: PTI | New Delhi |
April 19, 2021 1:18:27 pm
Macrotech Developers, Macrotech Developers Ltd, Macrotech Developers Limited, Macrotech Developers IPOImage source: Macrotech Developers Limited

Shares of Macrotech Developers on Monday made a tepid market debut, listing with a discount of over 10 per cent from the issue price of Rs 486.

The stock listed at Rs 439, registering a decline of 9.67 per cent from the issue price on BSE. It further tumbled 13.34 per cent to Rs 421.15.

On NSE, it debuted at Rs 436, lower by 10.28 per cent from the issue price.

The initial public offer of realty major Macrotech Developers was subscribed 1.36 times earlier this month.

Macrotech Developers, erstwhile Lodha Developers, fixed a price range for the Rs 2,500-crore offer at Rs 483-486 per share.

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