New Delhi, Aug 16 (PTI) Windlas Biotech shares on Monday made a weak debut at the bourses, listing at a discount of 5 per cent, against the issue price of Rs 460.

Shares of the company listed at Rs 439, lower by 4.56 per cent from the issue price on the BSE. It further tumbled 11.46 per cent to Rs 407.25.

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On NSE, it listed at Rs 437, a decline of 5 per cent.

The initial public offer of Windlas Biotech, a manufacturer of pharmaceutical formulations, was subscribed 22.46 times earlier this month.

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The Rs 401.53-crore offer had a price range of Rs 448-460 per share.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)