Meanwhile the BSE Sensex was down 38.98 points or 0.24% to 16,247.34

DB Realty listed on the BSE at Rs 430, at a discount of 8.11% over the issue price of Rs 468. The stock hit a high of Rs 458.80 and low of Rs 415.55 so far during the day.

The counter clocked volume of 7.02 lakh shares on BSE.

Mumbai-based realty firm DB Realty had fixed the issue price of its initial pubic offer (IPO) at Rs 468 per share, at the lower end of the Rs 468-486 per share price band. The company's Rs 1,500 crore initial pubic offer (IPO) that closed on 2 February 2010, was subscribed 2.95 times. The IPO remained open for bidding between 29 January 2010 and 2 February 2010.

The company had also received bids for Rs 270 crore towards the anchor investor portion of the IPO. The anchor investors to whom equity shares have been allocated pursuant to the offer include Janus, India Capital Fund, Prudential ICICI Life Insurance, Reliance Capital and India Equity Growth Fund.

DB Realty plans to use the funds raised through the recently concluded IPO to build more homes and offices mainly in western India and to repay debt.

DB Realty focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment in and around Mumbai.

As per consolidated result, the company reported a net profit of Rs 145.79 crore on sales of Rs 464.43 crore for the year ended March 2009.