Repco Home makes weak stock market debut; tanks over 6%

MUMBAI: Repco Home Finance's scrip today closed below its issue price of Rs 172, falling over 6 per cent on debut trade.

After making a weak opening in an overall lacklustre market, shares of the company tanked 8.11 per cent to Rs 158.05, against the issue price in intra-day trade on the BSE. It finally ended at Rs 160.85, down 6.48 per cent.

At the NSE, the scrip ended at Rs 164.70, down 4.24 per cent. The stock had tanked 8.13 per cent to Rs 158 intra-day.

The company had raised Rs 270 crore from the public issue. It had fixed the price-band of the issue at Rs 165-172 per share.

The Chennai-headquartered Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank ( Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.

Meanwhile, the BSE 30-stock index, Sensex, ended at 18,864.75, up 28.98 points.