Aavas Financiers shares makes a weak debut at stock market on Monday

Shares of housing finance company Aavas Financiers made a weak debut at the bourses Monday, plunging 9.5 per cent from the issue price of Rs 821 per share.

The stock listed at Rs 758, falling 7.67 per cent from the issue price on BSE.

On NSE, shares of the company debuted at Rs 750, plunging 9.46 per cent against the issue price.

In terms of equity volume, 3.17 lakh shares of the company changed hands on BSE and over 22 lakh shares were traded on NSE during morning trade.

Aavas Financiers' Rs 1,734 crore initial public offer ran from September 25 to September 27 and was subscribed 97 per cent.

Price band for the offer was fixed at Rs 818-821 per share.

ICICI Securities Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited, Spark Capital Advisors (India) Private Limited and HDFC Bank Limited were the book running lead managers to the issue.

(With inputs from agencies.)