Shares of SBI Cards and Payment Services made a weak debut at the bourses on Monday plunging over 10 per cent against its issue price of Rs 755 as coronavirus fears continued to hurt investor sentiment.
The scrip listed at Rs 658, dropped 12.84 per cent from its issue price on the BSE. During the day, it touched high of Rs 755 and a low of Rs 658. Later, it plunged 9.50 per cent to close at Rs 683.20.
On the NSE, the scrip tanked 10.19 per cent to close at Rs 678. The company’s market valuation stood at Rs 64,149.53 crore at close of trade on the BSE.
The drop in the company’s scrip was in-line with a weak broader market, where the BSE benchmark plummeted over 2,700 points.