Monte Carlo, a retailer and manufacturer of woollen and cotton apparels had a bad debut on the exchanges today.
Shares of the company fell on its debut trade on the Bombay Stock Exchange. At 2.30 pm IST, the stock was seen trading at Rs 577, lower by Rs 10.45%. The issue price was fixed at Rs 645.
Monte Carlo raised Rs 350 crore through the issue of 54.33 lakh equity shares that was opened for subscription from December 3-5, this year.
Promoters include Jawahar Lal Oswal, Kamal Oswal, Dinesh Oswal, Monica Oswal, Ruchika Oswal, SMCL and SSCL, and other promoter groups together hold 81% of the issued, subscribed and paid-up equity share capital.