Shares of Interglobe Aviation Limited, the company which owns Indigo Airlines listed on the bourses and were off to a flying start. The Flight which has taken off is yet to land. Shares gained a massive 14.83% on the BSE and 14.67% on the NSE. The company had launched its IPO with a simultaneous issue of fresh shares to raise Rs 1,272.20 crs and an offer for sale of 2.28 cr shares in a price band of Rs 700-765. The issue garnered Rs 3,016.40 crs and is the largest issue in terms of size in 2015 so far.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Wt. Avg | Volume | Delivery | Del %age |
| BSE | 856.00 | 898.00 | 848.10 | 878.45 | 113.45 | 14.83 | 880.10 | 5066114 | 1826509 | 36.05 |
| NSE | 855.80 | 899.50 | 849.00 | 877.25 | 112.25 | 14.67 | 880.18 | 27351793 | 11087159 | 40.54 |
| Total | 32417907 | 12913668 | 39.83 |
From the table above one can see that there was huge volume in the share and as much as 324.17 lakh shares were traded. This is 82% of the total issue size of 3.94 cr shares. Delivery of shares was at 1.29 cr shares or just about 40% of shares traded. When comparing this number with total IPO size the delivery percentage is 32.75% and when one excludes the anchor book as these shares are locked in for 30 days, the delivery percentage rises to 45.22%. Now comes the intriguing part where huge deliveries have happened and there is not a single name which appears on the BSE or NSE in bulk trades. One understands that the bulk of the selling would be from retail investors, but there shares were bought by somebody. The buyers of these shares could certainly have not been people who were buying a few hundred shares each.
There is an interesting piece of history unfolding and we will know what happens in the next few weeks. In 2010 the PSU giant Coal India listed on the same day that is the 14th day in the Hindu calendar after Dhanteras and before Muhurat trading also known as ‘Kali Chaudas’. The issue was the largest in size at that time as in the case of Interglobe. There was hype and the issue did well on listing day and even thereafter. The markets rose that day but thereafter fell and were generally weak. Hereto, Interglobe has done well, largest size issue, market rose on Muhurat day and what next? Keep your fingers crossed and more of it next week when more clarity on the buyers of Interglobe and the performance of the market is visible.
To conclude, the listing of Interglobe would be termed as highly satisfactory and partially salvages all the controversies of dividends, negative net worth etc.
