Share opens steady but down one third in first hour
Omkar Speciality Chemicals Limited which had tapped the capital markets in January, listed today. The share was issued in a price band of Rs 94-98 and was to raise just under 80 crs by way of issue of 81 lakh shares. The issue was oversubscribed 4.67 times.
The stock made its debut at Rs 95 on the BSE and Rs 92 on the NSE. The high was an identical Rs 101 on both exchanges. The low was Rs 53.90 on the BSE and Rs 51.65 on the NSE. The share after the first hour of trade is at Rs 62, a loss of Rs 36 or 36.73%.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 95.00 | 101.00 | 53.90 | 62.00 | -36.00 | -36.73 | 7026958 | 64.33 |
| NSE | 92.00 | 101.00 | 51.65 | 62.00 | -36.00 | -36.73 | 7236047 | 63.78 |
| Total | 14263005 |
The trading volumes have been 142.63 lakh shares which is 1.76 times the IPO size of 81 lakh shares. The weighted average of the first hour’s trade is Rs 64.33 on the BSE and Rs 63.78 on the NSE respectively. The share is under pressure without doubt and probably the negative sentiment in the market has taken its toll on the share. It would be interesting to see where the share closes at the end of the day and also what percentage of shares is delivered.
