Ravikumar Distilleries Limited listed on the BSE and NSE today. The company had launched its IPO for 115 lakh shares in a price band of Rs 56-64. The issue was open between the 8th and 10th of December 2010. The issue was subscribed 2.22 times.
The share listed at Rs 64 on the BSE and Rs 72 on the NSE respectively. The high on BSE was Rs 89.20 while on the NSE it was Rs 89.30. The low on both the exchanges were the open of Rs 64 and Rs 72 respectively. The volumes were brisk and the first hour saw a combined traded volume of 299.67 lacs against the IPO size of 115 lacs. This traded volume is a staggering 2.6 times the size of the IPO.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 64.00 | 89.20 | 64.00 | 84.10 | 20.10 | 31.41 | 13706115 | 84.51 |
| NSE | 72.00 | 89.30 | 72.00 | 84.00 | 20.00 | 31.25 | 16261305 | 84.85 |
| Total | 29967420 |
The share is currently trading at Rs 84 and the share is up 31%. The weighted average of the stock is around Rs 84.50 and is currently holding itself well as compared to the issue price of Rs 64. The real test will be to see how the share closes at the end of the day. The huge volumes which have been seen are certainly unexplainable and defy logic. There are many things which happen in the marketplace which defy logic initially but then correct themselves to the logical.
It would be interesting to see how this share behaves as the day progresses and where it closes.
