Mumbai, March. 16 (PTI): Shares of broadcaster and media company Raj Television plunged 12 per cent to close at Rs 225.95, while Page Industries slumped more than 21 per cent in their debut on the Bombay Stock Exchange.

Raj Television, which opened with seven per cent premium in the morning at Rs 275, failed to hold on to its gains as it touched lows of Rs 207.10 per share.

Out of the 10 new listings on the bourses this month, seven have returned with losses on the very first day itself while only three -- Indian Bank, Mindtree and Idea -- have been able to attract investors, post-IPO.

Around 9.48 lakh Raj TV shares were traded on the BSE but heavy-selling pressure kept the price of the scrip well below its opening on the Dalal Street.

Raj Television entered the bourses with around 1.29 crore shares having a face value of Rs 10 each.

On the NSE, the scrip closed at Rs 218.50 -- down 15 per cent over its issue price of Rs 257 per share.

After briefly managing to go pass its opening price of Rs 225, the shares stooped to lows of Rs 207.20 -- almost Rs 50 below its issue price. Around 10 lakh shares exchanged hands.

Meanwhile, Page Industries, the exclusive licensee of Jockey brand of innerwear for India closed at Rs 282.10 -- down 21.64 per cent over its issue price of Rs 360 per share.

After a weak opening on the BSE, the scrip hit further lows of Rs 272 per share, recovering a bit but it did not go past its opening price of Rs 341.90 per share. Around 5.12 lakh shares were traded on the BSE.

Page Industries closed at Rs 268 -- losing more than Rs 92 over its issue price.