Share down 11%
Shares of PTC India Financial Services listed on the BSE and NSE today. 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.
The share listed at Rs 28 at the BSE and Rs 26.75 at the NSE respectively. The high was Rs 28 on the BSE and Rs 27 on the NSE. The low was Rs 23.50 on both the BSE and NSE. At around 11 am the share is trading at Rs 24.80 on the BSE and Rs 24.75 on the NSE which is down Rs 3.20 and Rs 3.25 respectively. This translates into a loss of 11.5% and is a poor performance for the share.
| Exchange | Open | High | Low | Close | Net Change | % gain/loss | Volume | Wt Avg |
| BSE | 28.00 | 28.00 | 23.50 | 24.80 | -3.20 | -11.43 | 12298708 | 25.02 |
| NSE | 26.75 | 27.00 | 23.50 | 24.75 | -3.25 | -11.61 | 18478354 | 24.94 |
| Total | 30777062 |
The share saw brisk trading and in the first 100 minutes of trade has already seen 307.77 lakh shares traded which is 19.64% of the shares issued through the IPO. The total number of shares issued was 1567 lacs. The weighted average of the day’s trade is 25.02 on the BSE and Rs 24.94 on the NSE. The share is trading at Rs 24.75 and 24.80 and is currently below the weighted average price. The silver lining currently is the fact that the volumes have been quite poor and there could be an upside in prices from these levels.
All in all, so far share has had an extremely poor performance.
