Acropetal Technologies Limited listed on the BSE and NSE yesterday. The share made its debut on the BSE where a listing ceremony was held at Rs 130 and at Rs 92 on the NSE. The high was Rs 150 on the BSE and Rs 140 on the NSE. The low was Rs 89 on the BSE and Rs 87.40 on the NSE respectively.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 130.00 | 150.00 | 89.00 | 98.45 | 8.45 | 9.39 | 109.69 | 45259871 | 3476781 | 7.68 |
| NSE | 92.00 | 140.00 | 87.40 | 98.45 | 8.45 | 9.39 | 109.11 | 56099472 | 6869864 | 12.25 |
| Total | 101359343 | 10346645 | 10.21 | |||||||
The company had tapped the capital markets with its IPO in a price band of Rs 88-90 to raise Rs 170 crs. The IPO was open between the 21st and 24th of March and was subscribed 1.28 times. The share had a great debut on listing day and for the first 100 minutes of trade the share was constantly trading in the 125-130 range. Thereafter it crashed to Rs 100 and then for the remaining part of the day failed to recover. The low of the day was made around 1pm.
The total traded volume was 1013.59 lac shares which was 5.36 times the IPO size of 188.88 lac shares. The weighted average of the day’s trade was 109.69 on the BSE and Rs 109.11 on the NSE respectively indicating the selling pressure in the second half. The average traded price also suggests that the company has been able to give returns to all those who invested and sold on day one. The delivery volume was 103.46 lac shares which was 10.21% of the traded volume and 54.77% of the IPO size.
The share was under pressure and it appears the QIB’s have not yet sold. The large part of the selling has come from the ‘induced’ investor who was offered some incentive for investment or with whom deals was struck for the same. The share is likely to be under pressure going forward.
