BOMBAY, March 14 (AFP): India's first listed private airline, Jet Airways, made a lukewarm debut Monday as the shares opened higher than the public offer price but below market expectations, dealers said.
In afternoon trade on the Bombay Stock Exchange, Jet Airways was at 1,256 rupees (28.7 dollars), up on the IPO price of 1,100 rupees but disappointing some who had expected more. The stock had opened at 1,211 rupees.
In afternoon trade, the BSE Sensex was down 14.62 points or 0.21 per cent at 6,839.11.
The company offered a 20 per cent stake or 17.2 million shares at an indicated price of 950-1,125 rupees, with bids for the shares totalling more than 16 times the amount available within an hour.