Share closes with losses of 11%
Shares of PTC India Financial Services Limited listed today on the BSE and NSE. The share opened at the BSE at Rs 28 and at Rs 26.75 at the NSE. The open of Rs 28 was the high on the BSE while on the NSE the same was Rs 27. The low on both the exchanges was Rs 23.50 and the share closed at identical Rs 24.90 on both the exchanges.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 28.00 | 28.00 | 23.50 | 24.90 | -3.10 | -11.07 | 25.14 | 22856130 | 3987507 | 17.45 |
| NSE | 26.75 | 27.00 | 23.50 | 24.90 | -3.10 | -11.07 | 25.10 | 36735853 | 9220458 | 25.10 |
| Total | 59591983 | 13207965 | 22.16 | |||||||
The company had come out with its IPO for 15.67 cr shares which consisted of a fresh issue of 12.75 cr shares and an offer for sale of 2.92 cr shares. The price band was Rs 26 to Rs 28 and retail investors were given a discount of Rs 1 per share post allotment. The company had made an allotment of 2,35,05,000 shares to anchor investors at the top end of the price band of Rs 28.
From the above chart it is clearly visible that the share traded in the Rs 25-26 range since listing and crashed to the low of Rs 23.50 around 10.30 am. From there the share recovered close to the Rs 26 mark and for the remaining part of the day the share just drifted down slowly but steadily without any effort to recover lost ground. The share closed at Rs 24.90 on both exchanges with a loss of Rs 3.10 per share or 11.07%. The weighted average of the day was Rs 25.14 on the BSE an dRs 25.10 on the NSE respectively. The total traded volume was 595.91 lakh shares which was 38% of the IPO size of 15.67 cr shares which were issued. The delivery volume was 132.07 lakh shares which was a very high 22.16% of the traded volume but a mere 8.42% of the IPO size.
This low delivery as a percentage of IPO issue size indicated that the share is likely to be under pressure for quite some time.
