Chalet Hotels Limited which had tapped the capital markets with its simultaneous issue listed on the bourses and had a decent start. The company saw its prices open at Rs 291 on the BSE and Rs 294 on the NSE. They closed at Rs 290.40 and Rs 291.70 respectively, gaining Rs 10.40 or 3.71% and Rs 11.70 or 4.18% in the process.
The issue consisted of a fresh issue of Rs 950 crs and an offer for sale of 2,46,85,000 equity shares in a price band of Rs 275-280. The company had earlier allotted 1,75,84,071 equity shares to 21 anchor investors comprising of 27 entities at Rs 280. The highest allocation was made to SBI Smallcap fund who was allotted 17,85,729 equity shares or 10.16% of the anchor book.
The issue was subscribed by QIB’s to the extent of 4.66 times their size after reducing the above anchor portion. HNI’s was subscribed 1.10 times and retail, subscribed a mere 0.03 times. There were just 5,250 applications received.
The discovered price on BSE was Rs 291, the low was Rs 250.15, the high was Rs 295.30 and the close was Rs 290.40. The traded volume was 9,44,983 equity shares with delivery volume being 2,55,539 shares and delivery percentage 27.04%. Weighted average of the days trade was Rs 285.09.
On NSE the discovered price was Rs 294, the low was Rs 250.00, the high was Rs 300.00 and the close was Rs 291.70. The traded volume was 94,42,180 equity shares with delivery volume being 64,54,947 shares and delivery percentage 68.36%. Weighted average of the days trade was Rs 289.25.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 291.00 | 295.30 | 250.15 | 290.40 | 10.40 | 3.71 | 285.09 | 944983 | 255539 | 27.04 |
| NSE | 294.00 | 300.00 | 250.00 | 291.70 | 11.70 | 4.18 | 289.25 | 9442180 | 6454947 | 68.36 |
| Total | 10387163 | 6710486 | 64.60 |
The combined traded volume of 103.87 lac shares was 17.72% of the IPO size of 586.13 lac shares. Delivery volume of 67.10 lac shares was 64.60% of traded volume and 11.45% of IPO size. If one were to consider the fact that the anchor allotment is locked in for 30days, the traded volume was 25.32% of the IPO size and delivery volume was 16.36%.
In institutional trade, DB International Asia Limited sold 19,26,100 shares at Rs 293.54. No other trade was reported.
The share finished with small gains on listing day. It needs to stabilise, and the true test of its proper valuation would be gauged.
