Today, Bombay Stock Exchange saw shares of L&T Finance Holdings priced at Rs. 51, per share.

The equity shares of the company fell slightly below their issue price in debut trade today and were floating around Rs. 50 in morning trade on the BSE.

And, minutes after it rose to Rs 52, its prior benefits got waste and the company recorded its stock trading down by 2.88%.

The company which has raised Rs. 1,245 crore through its initial public offer has planned to invest its profit in five L&T subsidiaries, L&T Finance, India Infrastructure Developers, L&T Investment Management and L&T Mutual Fund Trustees.

As per the market experts, the company has showed the week performance in comparison to its pals and they also pointed out the poor demand for financial services shares among rising interest rates in India and the economic uncertainty globally.

Already, Sensex has fallen down 17% this year and 6% over the past week.

Deven Choksey, Managing Director at Brokerage K. R. Choksey Shares & Securities said, “Global and local markets have been volatile. The [local] markets have fallen over 6% since the price was decided”.

India’s stock market has been on shaky grounds due to national and international tensions.

Analysts seem to be positive about the long-term prospects of the company irrespective of its week Friday debut.