Shares of Equitas Holdings Limited listed on the stock exchanges and were off to a flying start. The company had tapped the capital markets with its fresh issue for Rs 720 crs and an offer for sale of about Rs 1,455 crs in a price band of Rs 109-110 and allotted shares at Rs 110. The issue had received excellent response and was oversubscribed over 17 times with HNI portion subscribed 57.29 times.

The discovered price was Rs144 on the BSE and Rs 145.10 on the NSE. The high on the two exchanges was marginally higher and was made within minutes of opening at Rs 147 on both the exchanges. The share price after making the highs trended downwards and closed at Rs 135.25 on the BSE and Rs 135.20 on the NSE. Gains were significant and the share closed with gains of just under 23%.
There were just two bulk trades reported with Goldman Sachs buying 39.19 lac shares at Rs 135 and MSD India fund buying 25.71 lac shares at Rs 137.52. Besides these two trades no other trade was reported. Incidentally it was mentioned during the roadshow repeatedly that the head room created for FII’s post listing would provide the pop for the shareholders.

Looking at the delivery and traded volumes mentioned above one finds that the total traded volume was 1671.29 lac shares which was 5% of the IPO size. The delivery volume was 796.57 lac shares which was 47.66% of the traded volume and 40.24% of the IPO size. From the fact that just two trades were reported of FII’s buying, it appears that plenty of head room exists but probably the buying interest is not as great.

All in all the share had a great performance and augurs well for the next IPO from the same microfinance field from Ujjivan Financial Services Limited which opens on Thursday the 28th of April.