Servalakshmi Paper Limited which had tapped the capital markets with its IPO in a price band of Rs 27-29 to raise Rs 60 crs had a dream debut on the bourses today. The company had a listing ceremony at the BSE where the listing price was Rs 30 and Rs 29 on the NSE. The low of the day was Rs 25 on the BSE and Rs 24.60 on the NSE respectively. The share is on upward trend and there seems to be some speculative interest on listing day. The share has made a high of Rs 38.40 on the BSE and Rs 38.45 on the NSE.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Volume | Wt. Avg |
| BSE | 30.00 | 38.40 | 25.00 | 38.20 | 9.20 | 31.72 | 33600768 | 31.99 |
| NSE | 29.00 | 38.45 | 24.60 | 38.35 | 9.35 | 32.24 | 41940050 | 31.96 |
| Total | 75540818 | |||||||
There has been huge volume on the counter and at 10.30 am the combined volume on the two exchanges was 755.40 lac shares against the issue size of 206.89 lac shares, which means 75 minutes of trade has resulted in a turnover of 3.65 times the IPO size. The weighted average of the day’s trade is Rs 31.72 on the BSE and Rs 32.24 on the NSE indicating the movement witnessed in the counter.
Investors have got an excellent opportunity to book profits and should use this to take their money of the table. I believe there would be better opportunities to re-enter the stock at a later date. All in all this is an excellent listing for the company and one hopes that the share holds at higher levels.
