Shares of Pennar Engineered Building Systems Limited (PEBS) listed on the exchanges yesterday. The company had raised money from the markets with a fresh issue of Rs 58 crs and an offer for sale of 55.16 lac shares in the price band of Rs 170 to 178. The issue was subscribed with some effort.
The share listed on the BSE with a discovered price of Rs 150 and Rs 177.95 on the NSE. This is probably the first time ever that we have had such a big difference in discovered prices on the two exchanges. While the BSE price of Rs 150 went on to close at the upper circuit of Rs 157.50, the share on NSE closed at virtually the lower end of the day almost at lower circuit of Rs 169.90. The net change on the BSE was down Rs 20.50 or 11.52% while on the NSE it closed at Rs 169.90, a loss of Rs 8.10 or 4.55%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Wt. Avg | Volume | Delivery | Del %age |
| BSE | 150.00 | 157.50 | 150.00 | 157.50 | -20.50 | -11.52 | 152.69 | 25274 | 25274 | 100.00 |
| NSE | 177.95 | 177.95 | 169.10 | 169.90 | -8.10 | -4.55 | 172.68 | 786257 | 786257 | 100.00 |
| Total | 811531 | 811531 | 100.00 |
From the above table we can see that the total traded volume was 8.11 lac shares and as the share is in the trade to trade segment all shares are to result in delivery. The above delivery is therefore 9.24% of the issue size.
Very clearly the issue has not debuted on a solid note and was seen to be struggling. The aberration in price will take another two days to settle down and hopefully by then the share would also become stable.
As of now the opening day’s performwencfe is not satisfactory and leaves a lot to be desired.
