Mumbai: Shares in ICICI Securities Ltd fell as much as 16.3 per cent on their market debut on Wednesday after the company raised a lower than expected Rs. 3,514 ($541.26 million) at its initial public offering last week.
Shares were trading down 12.5 per cent at Rs. 455 as of 0433 GMT after earlier dropping to a low of Rs. 435.
Shares in state-run Mishra Dhatu Nigam Ltd were trading at Rs. 89, down 1.11 per cent on their market debut, versus an issue price of Rs. 90.
The company, which makes special steels and alloys for sectors such as defence, power and space, had raised Rs. 433 for the government at its initial public offering.
($1 = 64.9225 Indian rupees)