(24 November 2009 10:10 pm)

MUMBAI: Den Networks, the cable distribution company with a pan-Indian footprint, traded below the offer price on its debut day.

The shares, listing on the bourses at issue price of Rs 195, managed an intra day high of Rs 197 but fell to a low of Rs 149.50 before finally closing at Rs 163.10, down 16.36 per cent.

A total of 7.73 million shares were traded during the day on the BSE.

On NSE, the stock closed at Rs 163.40, down 16.20 per cent. The stock saw an intra day high of Rs 199.80 and a low of Rs 149.50.

A total of 10.26 million shares of Den were traded on the opening day on NSE.

As reported earlier by Indiantelevision.com, Den has raised Rs 3.7 billion through its initial public offering (IPO) of up to 20 million equity shares.

Also Read:

Den raises Rs 3.7 bn, to list on 24 November

SoftBank, Indea Capital invest in Den

Den sets IPO price band at Rs 195-205