Globus Spirits Limited was listed on the BSE and NSE today. The company had a listing ceremony on the BSE. The company had issued 75 lac shares in the price band of Rs 90 to 100. The issue was open during the period 31st of August and 2nd of September 2009. The issue was priced at Rs 100. The stock listed at Rs 110 on both the exchanges and has been under some pressure thereafter. The stock after showing initial strength has given up a large part of its gain but is still trading in positive territory and as of 11.45 am the stock was up about 2% on both the exchanges. The volume on the BSE and the NSE was 45 lacs and 60 lacs respectively. The combined volume of almost 106 lacs in the first 110 minutes of trade is average. It would be interesting to see where the stock closes at the end of the day.

In a television interview after the listing the Managing Director of the company Mr Ajay Swarup has indicated that the company is likely to earn an EPS of Rs 12-13 for the FY 09-10 based on the fully diluted equity. The company has also signed an agreement for bottling of Jagatjit’s products.