The largest gold loan company of the country, Muthoot Finance had a modest listing gain opening 2.85% above its issue price of Rs. 175 on its debut at the Bombay Stock Exchange (BSE) in a firm Mumbai market today. The non-banking finance company had its opening with over 12% premium, on Friday.
The debut price of the shares of the company on the National Stock Exchange (NSE) stood at Rs. 196.60 apiece, which means it witnessed a hike of around 12.34%. However, at BSE the company saw a premium of almost 2.85%, after debuting at Rs. 180 per share.
The not-so-great debut of Muthoot also had some impact on one of its key competitors in the market, Manappuram General Finance, whose scrip fell by 3.45% during the start of the trade.