Share under pressure down over 15%
Cantabil Retail India Limited listed at the BSE and NSE today. The company had come out with its IPO to raise Rs 105 crs in a price band of Rs 127-135. The issue was subscribed 2.35 times initially but there were quite a few withdrawals which brought the subscription down to less than 2 times.
The share listed at Rs 133.80 on the BSE and at Rs 114.70 on the NSE. The high on the BSE was the open itself, while on the NSE it was Rs 125.80. The share has been under pressure from listing time and the low on the BSE was Rs 112.05 while on the NSE it was Rs 112. The current price is slightly better than the lows and is trading at Rs 113-114 but is down over 15 %.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 133.80 | 133.80 | 112.05 | 113.60 | -21.40 | -15.85 | 7381568 | 119.41 |
| NSE | 114.70 | 125.80 | 112.00 | 113.50 | -21.50 | -15.93 | 13545658 | 119.36 |
| Total | 20927226 |
The share after opening has been under pressure consistently. The total traded volume in the first three hours of trade is 209.27 lakhs which is 2.7 times the IPO size of 77.78 lakh shares. The weighted average is Rs 119.35 which is down over Rs 15 and 12% in value. The share was not recommended by this site even at the time of the IPO and the heading was Cantabil Retail India Limited – Valuations do not merit Subscription. AVOID the issue.
The fall is in line with expectations and even at these levels does not offer value for money. Stay away from this counter at current prices as well.
