Indiabulls jumps 29 pct on debut

Indiabulls jumps 29 pct on debut

Anyone invested in this IPO? What about its future prospect when compared to

Indiabulls Financial Services Ltd., which offers on-line stock trading, jumped 29 percent at its debut on the Bombay Stock Exchange on Friday.

The stock listed at 24.50 rupees on the exchange, compared with an offer price of 19 rupees.

Earlier this month, Indiabulls raised 516.5 million rupees through a book-built issue by selling 27.1 million shares, or 25 percent of its expanded equity.

The offer was priced at 19 rupees a share, at the top end of a previously set band, and was subscribed 18.5 times.

At the day's high of 26.85 rupees, the company was valued at at 2.9 billion rupees.

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