Mumbai: Shares of Precision Camshafts Ltd, which made a weak debut at the bourses on Monday, ended nearly 5% lower against the issue price of 186.

The stock which listed at 163.10, down 12.31% over the issue price, finally ended the day at 177.25, reflecting a loss of 4.7% on the Bombay Stock Exchange. During the day, the stock touched a high of 184.70 and a low of 155.

At the National Stock Exchange, shares of the company fell 4.59% to close at 177.45. On the volume front, 30.79 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day. The company at present commands a market valuation of 1,679.35 crore.

The IPO of Precision Camshafts, the first public offering of 2016, had seen an over subscription of 1.89 times. The company had set a price band of 180-186 for the share sale. The 240-crore public float had closed on 29 January. Maharashtra-based Precision Camshafts makes over 150 varieties of camshafts for small and mid-sized passenger vehicle engines world over.

Meanwhile, the broader market too witnessed selling pressure where the BSE Sensex ended with a loss of 329.55 points at 24,287.42.

Close