The first of mega issues in the current IPO boom Adani Power was listed today at the BSE and NSE. The listing ceremony was held at the BSE. The stock which was issued at Rs 100 listed at Rs 105, a gain of Rs 5.00 or 5.00 % on the BSE. The listing price on NSE was Rs 108, a gain of Rs 8.00 or 8.00 %. The stock was trading at Rs 103.30 with a high of 107.90 and a low of 100.15 and a traded volume of 2,26,44,503 shares as at 10.10 am on the BSE and Rs 103.35 with a high of Rs 110.00 and a low of Rs 100.65 and a traded volume of 3,93,66,477 on the NSE. The BSESENSEX is trading 305 points up at 15114 while the NSENIFTY is trading at 4480 up 86 points.
The share seems to be under pressure. The markets are very strong currently and could not have been better placed for the listing of any new share.
More of Adani Power and what are the prospects in the short term at the end of the day. It may also be mentioned that following this issue is NHPC which is expected to list in the first week of September.
Dear Arun,
You are absolutely correct in your assesment that Adani Power IPO listing and the subsequent selling by all and sundry(Fly by night investors).And this happened on a day when market was up and undercurrents were very bullish.Either the merchant bankers have been very agressive in the pricing or the Masses who sold this stock on Listing do not know the correct valuation of Adani Power.Instead of making an electrifying debut Adani Power seems to be tired and listless.This is bound to affect the IPO Investors Pschology for NHPC Listing.A superb commentary on whats is currently happening in IPO Space.Keep it up Arun.