Mindtree Consulting trades at 660.90 at NSE

Mumbai, Mar 7 (UNI) The New Public issue of Mindtree Consulting this morning was for the first time trading at Rs 660.90 on National Stock Exchange (NSE), a premium of 55.5 per cent over Initial Public Offering (IPO) price of Rs 425.

A leading broker informed that the stock debuted at Rs 627.

It hit a low of Rs 590 and a high of Rs 668.80 during the noon. A huge 15.2 lakh shares had changed hands in the counter.

The IPO of MindTree Consulting had been given an overwhelming response by a cross-section of market participants, institutions, high networth individuals (HNIs) and retail investors. The IPO of the IT firm got bids for 57.76 crore shares, 103 times the issue size of 55.9 lakh shares. The IPO was priced band at the upper end of Rs 365 to Rs 425, brokers added.

UNI