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SBI Life Shares Drop Below Issue Price
October 10, 2017
The newly-listed SBI Life Insurance Co. saw its shares’ price slipping below the IPO price this Thursday. As they fell by over 1% they finally stabilized below the rate of the issue price i.e. Rs. 700.
The stock ended at Rs. 692.50, which is 1.37% lower from the previous close on the BSE. However, during the same day, it slipped even further to Rs. 685, a 2.43% drop. At NSE, on the other hand, the company’s shares dropped by 1.29% at Rs. 694.55%.
In terms of equity volume, the company’s shares changed hands 26 lakh times at NSE and 2.68 lakh times at BSE.
