Astron Paper Limited – Share Flies, Gains Almost 140%

Shares of Astron Paper Limited listed on the last day of the year and literally flew. They gained a whopping 140% on day one. The company had tapped the capital markets with its primary issue of 70 lakh shares in price band of Rs 45-50. The issue received excellent response and was subscribed 243.29 times with QIB portion subscribed 103.36 times, HNI subscribed 396.99 times and Retail subscribed 77.93 times.
The share had a discovered price of Rs 114 on the BSE and Rs 115 on the NSE. The traded volume at the discovered price was 2.91 lakhs on the BSE and 30lakhs on the NSE. This volume is huge because this issue was in trade to trade and would remain there for the next nine trading days as well. At the end of the day the share had seen volumes of 69.37 lakh shares which is 99% of the IPO size of 70 lac shares. There were no anchor investors in this issue which effectively means that almost everybody who was allotted shares in the issue has sold.

Exchange Open High Low Close Net Change % Gain/ Loss Wt.Avg Volume Delivery Del %age
BSE 114.00 119.70 113.10 119.70 69.70 139.40 116.68 581237 581237 100.00
NSE 115.00 120.75 112.50 120.75 70.75 141.50 117.80 6355963 6355963 100.00
Total 6937200 6937200 100.00

From the table above, one can see that the share opened at the discovered price, dipped marginally and hit the upper circuit thereafter. The weighted average of the day was Rs 116.68 on the BSE and Rs 117.80 on the NSE.

In terms of buyers and sellers whose names were reported, there were three HNI’s whose names were reported on the buy side. They cumulatively bought 9.18 lakh shares.

The scrip closed at Rs 119.70 on the BSE, a gain of Rs 69.70 or 139.40%. On the NSE, the closing price was Rs 120.75, a gain of Rs 70.75 or 141.50%. Phenomenal return is what one can say. People who were lucky to have been allotted shares have made great money and coming as it did on the last trading day of calendar year 2017, was a good way to round up the year.

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