Prataap Snacks Limited – Great Debut closes with gains of over 25%

Prataap Snacks Limited better known by its Yellow Diamond brand of snacks, potato chips and extruded products listed on the bourses and had a great debut. Shares were issued at a price of Rs 938. They opened at a level of Rs 1250 on the BSE and Rs 1270 on the NSE.
The high was Rs 1317.05 and Rs 1318.80 respectively. The lows were Rs 1137 and Rs 1133.70. The final close at Rs 1178.50 and Rs 1180.65 respectively, a gain of Rs 240.50 or 25.64% on the BSE and Rs 242.65 or 25.87% on the NSE.

The company had tapped the capital markets with its simultaneous offer to raise fresh equity for Rs 200 crs and an offer for sale of 30.05 lakh shares. The company had allotted 15.28 lakh shares to 15 anchor investors comprising of 25 entities. The public issue was very well received and was subscribed an overall 47 times with the QIB portion subscribed 76.89 times, HNI 101.15 times and Retail 8.48 times.

The traded volume was 109.30 lakhs which was 2.12 times the IPO size. Delivery volume was 26.78 lakhs which was 24.50% of the traded volume and 52.13% of the IPO size. Adjusted for only non-anchor portion the delivery was a massive 74.21% which implies that even QIB’s have booked profits on day one.

Exchange Open High Low Close Net Change % Gain/ Loss Wt.Avg Volume Delivery Del %age
BSE 1250.00 1317.05 1137.00 1178.50 240.50 25.64 1231.36 1785742 396028 22.18
NSE 1270.00 1318.80 1133.70 1180.65 242.65 25.87 1236.14 9144860 2282236 24.96
Total 10930602 2678264 24.50

From the table above one can see that the weighted average of the day’s trade was Rs 1231.36 on the BSE and Rs 1236.14 on the NSE substantially higher than the close of the day, indicating that there was selling pressure in the last hour of trading. The days close was Rs 1178.50 and Rs 1180.65 respectively which means that the net gain for the day was a good Rs 240.50 or Rs 242.65 on the two exchanges. In percentage terms this was 25.64% and 25.87% respectively. Good performance by all standards.

In terms of institutional trade there were two on the buy side where SBI Mutual Funds bought 4.40 lakh shares at Rs 1272.68 and Smallcap Wonder Fund bought 4,25,525 shares at Rs 1245.67 respectively.

The share is likely to gain from current levels in the coming days.

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