The share price of the online service firm Ocado fell down by 9% just after the flotation of the company. The share price was dropped down to 180p, which was the lowest value ever.

The firm has reduced the price range to 180p to 200p for its flotation from its original range of 200p to 275p which would have valued the firm to at least 800 million dollars to 1.1 billion dollars.

The shares were traded conditionally in between 163p to 164p even after the implementation of the reduced listing price.

According to the market experts, the price range of Ocado was too high as the firm has never made a profit in its history. Only those customers of Ocado who has spent more than 300 euros on the company will be eligible to buy its shares.

Thousands of people had joined the company before its deadline of Sunday to buy its shares. Now the shares are on sale at 180p but the analysts say that price is also not suitable for the shares of Ocado and they believe that price is still a little bit higher.