Vascon Engineers Limited listed at the BSE and NSE and had a listing ceremony on the NSE. The share listed at Rs 170 on the BSE and Rs 156 on the NSE respectively. The highs of the day were Rs 173.45 and Rs 171.995 respectively. The share was under pressure throughout the day and the lows were recorded at Rs 144 and Rs 145.10 respectively. The share closed at Rs 147.20 and Rs 146.45 respectively.

Exchange	Open	High	Low	Close	Net Change	% gain	Wt Avg	Volume	Delivery	Del % age
BSE	170.00	173.45	144.00	147.20	-17.80	-10.79	152.83	5951747	649994	10.92
NSE	156.00	171.95	145.10	146.45	-18.55	-11.24	152.55	9470462	1386361	14.64
Total								15422209	2036355	13.20

The weighted average for the day was Rs 152.83 and Rs 152.55 on the BSE and NSE respectively. The traded volume was 1.54 cr shares against the IPO size of 1.08 cr shares signifying that 1.43 times the issue size was traded. The no of shares delivered were 20.36 lakhs indicating a delivery percentage to traded shares of a mere 13.20%. If one were to consider the delivery as a percentage of the shares issued it would be much higher at 18.85% but significantly lower than what has been seen in other issues. The share was under pressure yesterday but the low delivery indicated that the stock could bounce today.

Time and again it has been brought out that valuations are a key to the success of the issue and listing is something which will be remembered as long as the stock is traded on the exchanges. It is imperative that merchant bankers and promoters curb their greed when issuing paper in the IPO.

The share could see some bounce today.