Blue Dart shares fall over 3% on BSE
Mumbai: Shares of logistics service provider Blue Dart Express on Friday slumped by over 3 percent to settle at at Rs 1,993.15 on the BSE, even as its 6.03 percent stake sale received overwhelming response from investors.
The market cap of the company fell by Rs 121 crore to Rs 4,729 crore in a single day.
The stock opened on a weak note on the BSE and then slumped 10.53 percent to an intra-day low of Rs 1,840 on the BSE. The stock finally settled at Rs 1,993.15, lower by 3.09 percent from its previous closing price.
On the National Stock Exchange the stock fell 8.95 percent to an intra-day low of Rs 1,875.10. The stock ended at Rs 1,965, down by 4.59 percent from its last close.
The offer for sale attracted bids for 38,76,052 shares against the offer size of 14,31,937 shares at an average price of Rs 1,833.08 per share, according to the data available on the BSE.
Blue Dart had fixed a price of Rs 1,720 per share, a discount of 16 percent to yesterday's closing price, for sale of 6.03 percent promoter's stake.