A2Z Maintenance and Engineering Services plunges on Listing Day, closes 17.78% below Issue Price - Indian IPO Blog

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Thursday, December 23, 2010

A2Z Maintenance and Engineering Services plunges on Listing Day, closes 17.78% below Issue Price

A2Z Maintenance and Engineering Services Ltd., which listed on the exchanges today, opened at Rs.390/- per share on the BSE as against the Issue Price of Rs.400/- per share. Amidst high turnover, the share kept drifting down and touched an Intra-day low of Rs.318.65 on the BSE, before closing the Listing Day at Rs.328.90, at a discount of 17.78% over the Issue Price

A2Z Maintenance and Engineering Services Ltd. is an engineering, procurement and construction (“EPC”) company, The IPO had finally managed to gather 0.96 times subscription on an overall basis on the closing day

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