Deepak Builders shares make weak market debut; down nearly 21%

New Delhi: Shares of engineering and construction company Deepak Builders and Engineers India Ltd ended with a discount of nearly 21 per cent against the issue price of Rs 203 on Monday.

The stock listed at Rs 198.50, lower by 2.21 per cent from the issue price on the BSE. During the day, it fell by 21.10 per cent to Rs 160.15. Shares of the firm ended at Rs 161.90, reflecting a slump of 20.24 per cent.

At the NSE, it made the debut at Rs 200, down 1.47 per cent. The stock ended at Rs 161, down 20.68 per cent.

The company's market valuation stood at Rs 754.14 crore.

The initial public offer of Deepak Builders & Engineers India Ltd received 41.54 times subscription on the last day of the share sale on Wednesday.

The Rs 260-crore share sale had a fresh issue of up to 1.07 crore equity shares and an Offer-for-Sale (OFS) of up to 21,10,000 equity shares.

The price range for the offer was Rs 192-203 per share.