Shares of Endurance Technologies Limited listed on the BSE and NSE and were off to a flying start. The company had come to the markets with its offer for sale of 2.46 cr shares in a price band of Rs 467-472. Endurance had received excellent response in the subscription with the issue being oversubscribed 43.84 times. The QIB portion was subscribed 53.43 times, HNI 127.07 times and Retail 2.69 times. The company had earlier allotted 73.8 lakh shares to 24 Anchor investors comprising of 38 entities.
The price discovery of shares was done at Rs 570 on the BSE and Rs 572 on the NSE. The share price was on an uptrend throughout the day and shares closed at Rs 647.70 on the BSE and Rs 646.90 on the NSE, a gain of Rs 175.70 or 37.22% and Rs 174.90 or 37.06% respectively.
|Exchange||Open||High||Low||Close||Net Change||% Gain/loss||Wt. Avg||Volume||Delivery||Del %age|
From the table above one can see that the share reported brisk volume and saw a combined traded volume of 446.47 lakh shares which was 1.81 times the IPO size of 246.13 lakh shares. The delivery volume 607.was 115.75 lakh shares which was 25.93% of the traded volume and a massive 47.03% of the IPO size. This effectively means that by and large the retail and HNI portion has been delivered on day one.
The weighted average of the day was Rs 607.18 on BSE and Rs 606.82 on the NSE. There was one institutional trade reported which saw Smallcap World Fund buying 13.1 lakh shares at an average price of Rs 602.45.selling shareholder got hisn
The issue has done extremely well. There is one more thing that investors should remember this share for. This company was to go public in 2010, but the issue was cancelled/withdrawn because the selling shareholder got his exit by selling the entire stake to another investor. This issue provided an exit to that investor, effectively being an issue which has provided back to back exits for two investors over a long period of time.
A great debut for an issue which had received excellent support from all buckets in the subscription stage.