Shares of Rushil Décor listed on the BSE and NSE yesterday. The company had launched its IPO between the 20th and the 23rd of June. The issue was for 56.43 lac shares ion a price band of Rs 63-72. The issue was overall subscribed 2.62 times and the maximum response was from retail investors who subscribed there portion 6.57 times. The QIB portion remained undersubscribed receiving bids for a mere 0.23 times the reservation.
The share opened at Rs 81.25 on the BSE and Rs 74.50 on the NSE. The high of the day on both the BSE and NSE was Rs 124.05. The low was Rs 75 on the BSE and Rs 74.50 on the NSE. The share has risen from the opening levels and has made its high towards the end of the day.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Wt. Avg | Volume | Delivery | Del %age |
| BSE | 81.25 | 124.05 | 75.00 | 119.65 | 47.65 | 66.18 | 94.05 | 37143598 | 1812295 | 4.88 |
| NSE | 74.50 | 124.05 | 74.50 | 119.50 | 47.50 | 65.97 | 93.86 | 49610018 | 2726561 | 5.50 |
| Total | 86753616 | 4538856 | 5.23 |
The traded volumes on the exchanges were huge and the combined volume was a staggering 867.53 lac shares. The issue was for 56,43,750 shares. The delivery volume was 45,38,856 shares which was a mere 5.23% of the traded volume but a significant 80.42%. The weighted average of the day’s trade was Rs 94.05 on the BSE and Rs 93.86 on the NSE. The closing price was Rs 119.65, on the BSE, a gain of Rs 47.65 or 66.18%. On the NSE the closing price was Rs 119.50, a gain of Rs 47.50 or 65.97%.
The share opened at around Rs 80 levels and was steady at the same level right till 1 pm. In the next two hours the share rose non-stop to around the high of the day of Rs 124.05 which was made in the last few minutes of the day’s trading. The share closed at a lower level than the high because of weighted average method of calculating closing price. As already mentioned earlier, volumes were very heavy and the share recorded a turnover of 867.53 lac shares which was 15.37 times the IPO size.
There was one other share which was listed on the same day as Rushil, namely Birla Pacific Medspa Limited. The trading patterns of both the shares makes one believe that the people involved in the “ friendly” operation seem to have common interests.
The record book would say that Rushil Décor on listing day provided investors with hefty returns. The reality maybe different than what record books would say.
