Ganesh Consumer Products’ ends 9% lower

New Delhi: Shares of Ganesh Consumer Products Ltd, a key player in packaged food products in eastern India, on Monday ended with a discount of nearly 9 per cent against the issue price of Rs 322.

The company’s stock made its market debut at Rs 295, a decline of 8.38 per cent from the issue price on the BSE.

Shares of the firm ended at Rs 293.95, a decline of 8.71 per cent. At the NSE, the stock started trading at Rs 296.05, down 8 per cent. It ended at Rs 294.30, lower by 8.60 per cent.

The company’s market valuation stood at Rs 1,187.94 crore. The initial public offering (IPO) of Ganesh Consumer Products Ltd got subscribed 2.67 times on the closing day of bidding last Wednesday.

The Rs 409-crore IPO had a price band of Rs 306-322 per share.