Shares of PNB Housing Finance Limited debuted on the exchanges and made stellar gains. The company had made a fresh issue for Rs 3,000 crs in price band of Rs 750-775. The issue received excellent response for the same. The anchor book saw 45 Anchor investors comprising of 71 entities being allotted 1.15 cr shares. The issue was overall subscribed 29.55 times but there were two large HNI bids which were rejected as a result of which the book was overall subscribed one time less at 28.45 times. The breakup of the same was 37.33 times QIB, 79.94 times HNI, 1.35 time’s retail and 0.45 times employee. The leveraged HNI has made a killing in this issue.
The discovered price on the BSE was Rs 863 and Rs 860 on the NSE. This price was higher by Rs 88 and Rs 85 respectively giving gains of over 10%. The share touched a high of Rs 902.95 and Rs 904 on the two exchanges and closed at Rs 890.60 and Rs 891.15 on the BSE and NSE respectively. The gains made an impressive 14.92% and 14.99%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Wt. Avg | Volume | Delivery | Del %age |
| BSE | 863.00 | 902.95 | 860.05 | 890.60 | 115.60 | 14.92 | 883.90 | 6425114 | 3019103 | 46.99 |
| NSE | 860.00 | 904.00 | 860.00 | 891.15 | 116.15 | 14.99 | 883.91 | 33028250 | 15037264 | 45.53 |
| Total | 39453364 | 18056367 | 45.77 |
From the data above one can see that the volume traded was 394.53 lakh shares which was 1.02 times the IPO size of 387.09 lakh shares. Delivery percentage of traded shares was a hefty 45.77% while if looked at from IPO size it was marginally higher at 46.65%. If one looks at traded volume as percentage of IPO size minus the anchor allocation, the same is 1.45 times and delivery percentage 66.45%. This number is important as it indicates the floating stock in the market.
In terms of institutional trade General Atlantic has purchased a total of 56.52 lakh shares at a value of Rs 501.72 crs from the market. This has helped absorb whatever selling could have come from retail or the HNI who was making good money.
The company has announced the quarterly results for the July-September quarter would be announced on 15th November. These results would be keenly awaited as the performance would decide whether this share would trade in three digits or migrate to a four digit pricing.
A good debut for the share and a good Diwali gift for investors.
