Sudar Garments listed on the BSE and NSE on Friday. The company had launched its IPO between the 21st and 24th of February. The issue was for 90.77 lac shares and the price band was Rs 72-77. The issue was subscribed 1.55 times. The share listed at Rs 74 on the BSE and Rs 80.05 on the NSE. The high was Rs 117.70 on the BSE and Rs 117.35 on the NSE respectively, while the lows were the open on the BSE and the NSE.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 74.00 | 117.70 | 74.00 | 113.10 | 36.10 | 46.88 | 101.31 | 34312272 | 3671940 | 10.70 |
| NSE | 80.05 | 117.35 | 80.05 | 113.10 | 36.10 | 46.88 | 101.59 | 40407612 | 3053968 | 7.56 |
| Total | 74719884 | 6725908 | 9.00 |
The share was on an upward trend throughout the day and the share rose from Rs 75 to Rs 117 before closing at Rs 113.10. In terms of trading volume the same was 747.19 lac shares which was 8.22 times the IPO size of 90.88 lac shares. The weighted average of the day’s trade was Rs 101.31 on the BSE and Rs 101.59 on the NSE.
The share closed at Rs 113.10 which was a gain of Rs 36.10 on the issue price of Rs 77. In percentage terms the gain was a healthy 46.88%. The delivery volume was 67.25 lakh shares which was 9% of the traded volume but a significant 74% of the IPO size. The share has had a good debut but very clearly the company has a long way to go in delivering on the performance and expectation from the stock. The price performance on day one would put more pressure and also increase the expectations in terms of delivering good results.
It would be interesting to see how the share performs over the next week.
