Galaxy Surfactants Limited – Debuts with Gains of Over 14.74%

Shares of Galaxy Surfactants Limited debuted on the bourses on Thursday. The company had tapped the capital markets with its offer for sale of 63,31,674 equity shares in a price band of Rs 1,470 -1,480. It had earlier allotted 18,99,500 equity shares to 25 anchor investors comprising of 30 entities. The issue was very well subscribed.

The public issue was subscribed 20 times overall with the QIB portion subscribed 54.27 times. Non-institution portion was subscribed 6.96 times and retail portion subscribed 6.01 times. This was the second attempt at tapping the capital markets by Galaxy Surfactants Limited. The first time it had failed to get QIB portion fully subscribed.

The discovered price was Rs 1,520 on the BSE and Rs 1,525 on the NSE. The high was Rs 1,732 on the BSE and Rs 1,735 on the NSE. The low was the open itself on both the exchanges. The close was Rs 1,698.10 and Rs 1,700.45 respectively. The share gained Rs 218.10 on the BSE or 14.74% while it was Rs 220.45 or 14.90% on the NSE.

Exchange Open High Low Close Net Change % Gain/ Loss Wt.Avg Volume Delivery Del %age
BSE 1520.00 1732.00 1520.00 1698.10 218.10 14.74 1633.16 1349330 315255 23.36
NSE 1525.00 1735.00 1525.00 1700.45 220.45 14.90 1630.36 8538388 2588210 30.31
Total 9887718 2903465 29.36

The traded volume on the two exchanges combined was 98.87 lac shares which was 1.56 times the IPO size of 63.31 lac shares. Delivery volume was 29.03 lac shares which was 29.36% of the traded volume but 45.86% of the IPO size. If one considers the fact that the anchor portion is locked in for one month, the delivery volume was 65.51% of the non-anchor portion which is considerable. The weighted average of the day was Rs 1,633.16 on the BSE and Rs 1,630.36 on the NSE which is significantly lower than the day’s close. There were no institutional trades either on the buy or sell side which is a little intriguing.

The share has done well and a gain of 14.74% is significant.

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