Bharatiya Global Infomedia crashes after premium debut

MUMBAI: Shares of Bharatiya Global Infomedia, which debuted at 84, a premium of 2.44% to the issue price of 82, ended the day at 30.95, a 63% discount, on the BSE. The stock hit a high of 84 and low of 27.15 on the BSE. A total of 8.83 crore shares were traded on the two exchanges.

Bharatiya Global raised 55.10 crore through the issue of 67.2 lakh equity shares and diluted 42.42% stake. The company had priced the IPO at the top-end of the 75-82 per share price band.

Retail investors category was subscribed 5.06 times followed by non-institutional category with 1.94 times. However, qualified institutional investors avoided the issue by putting no bids.