Shares of Varun Beverages Limited listed on the BSE and NSE. The issue listed in the backdrop of poor response to its IPO from 3 of the four segments being under subscribed. Secondly coming back to back with the highly successful issue and listing of PNB Housing Finance Limited there were concerns about how it would fare. The company had tapped the capital markets with its simultaneous offer of 1.5 cr shares frsh issue and an offer for sale of 1 cr shares. The price band was Rs 440-445.
The company had allotted 73.5 lakh shares to 14 anchor investors comprising of 18 entities. The overall issue was subscribed 1.86 times.
| Exchange | Open | High | Low | Close | Net Change | % Gain/loss | Wt. Avg | Volume | Delivery | Del %age |
| BSE | 430.00 | 471.00 | 417.10 | 461.90 | 16.90 | 3.80 | 444.89 | 5215325 | 869305 | 16.67 |
| NSE | 430.00 | 471.75 | 416.85 | 459.50 | 14.50 | 3.26 | 448.08 | 18118170 | 2979635 | 16.45 |
| Total | 23333495 | 3848940 | 16.50 |
The discovered price at the BSE and NSE was Rs 430 which was a discount of Rs 15 to the allotment price of Rs 445. The low was Rs 417.10 on the BSe and Rs 416.85 on the NSE. The high was Rs 471 and Rs 471.75 respectively while the close was Rs 461.90 and Rs 459.50.
The traded volume was large at 233.33 lacs which was 0.93 times the issue size and 1.32 times the non-anchor portion. The delivery volume was poor at 38.48 lac which was 16.50% of the traded volume and 15.4% of the IPO size. It was 21.81% of the non-anchor portion. The delivery percentage was quite poor compared to other issues. There was one institutional trade where Mondrian Emerging Markets Smallcap Equity fund bought 10,97,992 shares at Rs 449.46. There were no other institutional trades.
The share closed with gains of 3.8% and 3.26%. Decent considering people were talking of a negative listing. Going ahead the share would have a tough time holding above Rs 445.
