The cash management firm basically serving financial entities and banks has made a debut today. The stock on the NSE opened at Rs. 220.2, while on the BSE it started trade at Rs. 218.5 per share.
This is as against the market momentum on the last calendar year wherein the headline indices as well as broader markets are trading with gains.
The company as per its website is into offering various functionalities across each stage of cash cycle from wallets to ATM deployment and cash handling etc. The company, despite being the leader in its domain runs a lot of shortcomings such as the entire promoter stake being pledged, lack of promoters' experience and serving the highly regulated banking environment.
The issue was a complete offer for sale with the upper band of Rs. 216 per share.
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