DB Corp Limited made its debut on the bourses today. The stock listed today on the BSE and this was probably one of the best listings a stock could have had in recent times. The stock opened at Rs 250 on the BSE and Rs 254 on the NSE. The highs were Rs 273.90 and Rs 274 respectively while the lows were Rs 235.50 on the BSE and Rs 250.55 on the NSE.
DB Corp was the third of the back to back issues which had opened for subscription during the 11th of December to 15th of December 2009. The issue price band was Rs 185 to Rs 212 with a discount of Rs 2 for retail investors. The issue was substantially oversubscribed and received bids for almost 40 times its IPO size. This also was a recent record bettering those of Adani Power, NHPC and Indiabulls Power. The QIB portion was subscribed over 68 times.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 250.00 | 273.90 | 235.50 | 262.50 | 50.50 | 23.82 | 7515782 | 260.27 |
| NSE | 254.00 | 274.00 | 250.55 | 262.65 | 50.65 | 23.89 | 12070723 | 260.56 |
| Total | 19586505 |
The listing price with a premium of Rs 38 or roughly 18% and the continued sustaining of the same is indeed heartening. The listing and subsequent performance will instil confidence in the minds of investors for returning to the primary markets. I believe promoters and merchant bankers should ensure that adequate pricing is done to ensure the success of issues in the primary market.
DB Corp in the first hour of trade had seen a combined volume of 1.96 crs which has already crossed the issue size of 1.82 crs. More of this stock at the end of the day.
