Accretion Pharmaceuticals Ltd. makes a weak debut on the bourses with scrip got listed at Rs 79.00 on the Bombay Stock Exchange, a 21.78 per cent discount to its issue price of Rs 101.00. On the National Stock Exchange, the stock was listed at Rs 79.00.
The company, which raised 0.29 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 29.46 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from May 14 to May 16.
Following a weak opening, the scrip touched an intraday high of Rs 82.95 and a low of Rs 75.05, before closing the session up by 17.87 per cent to its listing price at Rs 82.95 on the NSE.
The company anticipates using the proceeds of the issue for .
Jawa Capital Services Pvt. Ltd. as lead managers & KFin Technologies Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 24,813.45, up 129.55 points, or 0.52 per cent.