Sandhar Tech shares erase early gains, end 3% lower

New Delhi: Shares of auto component maker Sandhar Technologies gave up all early gains and ended nearly 3 percent lower over its issue price of Rs 332 in its debut trade on Monday.

The stock listed at Rs 345, a gain of 3.91 percent against the issue price on BSE. Intra-day, it touched a high of Rs 351.45 and a low of Rs 318.55. It finally settled at Rs 322.55, down 2.84 percent.

On NSE, shares of the company ended at Rs 322.15, a loss of 2.96 percent.

In terms of equity volume, 13.16 lakh shares of the company were traded on BSE and over 98 lakh shares changed hands on NSE during the day.

The company's market valuation stood at Rs 1,941.45 crore.

The Rs 512-crore IPO was open during March 19-21 and was subscribed 6.2 times.

The price band was fixed at Rs 327-332.

ICICI Securities and Axis Capital were the book running lead managers to the offer.