Shares in L&T Finance Holdings fell as much as 5.2% on their trading debut on Friday, casting a shadow over the prospects of new share sales in a sluggish stock market.The firm, a unit of Indian engineering conglomerate Larsen & Toubro, had priced its IPO at Rs 52 a share, near the lower end of the price band, raising about Rs 1,100 crore in a market that has seen few new issues so far this year.
The L&T Finance stock was trading at Rs 50.40 at 9.16 a.m. on the Bombay Stock Exchange. The Sensex was up 0.4%.
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