iValue Infosolutions shares debut with nearly 5% discount at Rs 285

New Delhi: Shares of iValue Infosolutions Ltd on Thursday listed with a discount of nearly 5 per cent against the issue price of Rs 299.

The stock started trading at Rs 285, a decline of 4.68 per cent from the issue price on the BSE. It further tumbled 8.34 per cent to Rs 274.05.

At the NSE, the stock listed at Rs 284.95, a discount of 4.69 per cent.

The company's market valuation stood at Rs 1,522.94 crore.

The initial share sale of iValue Infosolutions Ltd received 1.82 times subscription on the closing day of bidding on Monday.

The Rs 560-crore public offering had a price band of Rs 284-299 per share.

The IPO was a complete offer-for-sale (OFS) of 1.87 crore equity shares by promoters, an investor and individual shareholder, worth Rs 560 crore at the upper-end of the price band.

Since the entire issue was an OFS, all proceeds will go directly to the selling shareholders rather than the company.

iValue Infosolutions is an enterprise technology solutions specialist offering comprehensive, purpose-built solutions for securing and managing digital applications and data.

It primarily serves large enterprises in their digital transformation journeys by working with system integrators and OEMs (original equipment manufacturers) to identify, recommend, and deploy solutions that ensure the performance, availability, scalability, and security of applications and data.