Igarashi Motors had yesterday risen up to Rs.717.90 and all momentum was built in anticipation of its Offer for Sale (OFS) price which was to be announced. The price came in after market closure and it was at a discount – at Rs.650 per share. The market is obviously very disappointed with this OFS price today and the stock is trading in the red.

Going down, intra day to a low of Rs.680, down over 3% the stock is currently trading around the same levels.

The company’s OFS is for of 33,20,351 equity shares or 10.35% of equity share capital. The offer opened today for non-retail investors and will open tomorrow for retail investors.