Standard Chartered Bank PLC listed its IDR at the BSE and NSE respectively. The IDR’s were issued at Rs 104 with a discount of 5% to retail investors. Yesterday the closing price in London converted into Indian Rupees was Rs 1130 per share or Rs 113. The expected discount of between 6 to 8% is where the share is trading and this is on expected lines.
The IDR began trading on the BSE at Rs 105 and on the NSE at Rs 106. The highs made were Rs 108 on the BSE and Rs 106.40 on the NSE respectively. The lows were Rs 100.60 on the BSE and Rs 100.20 on the NSE respectively. After the first ninety minutes of trade almost 2.2 cr IDR’s were traded. This translates into roughly 9% of the issue size.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 105.00 | 108.00 | 100.60 | 104.60 | 0.60 | 0.58 | 8720258 | 104.84 |
| NSE | 106.00 | 106.40 | 100.20 | 104.65 | 0.65 | 0.63 | 13239881 | 104.89 |
| Total | 21960139 |
The weighted average of the IDR’s traded is Rs 104.85 which indicated a small gain for investors and about 6% for retail investors. Delivery figures and price at end of day will decide what happens next week.
