After first hour of trading appears to be under pressure
Gujarat Pipavav Port Limited (GPPL) made its debut on the bourses today. It listed on the BSE at Rs 56.25 and on the NSE at Rs 56.10. The high was Rs 58.40 on the BSE and Rs 58 on the NSE. The lows were Rs 52.90 on the BSE and NSE. The issue price was RS 46 and the price band was Rs 42-48.
The issue was very well received and was over-subscribed just under 20 times. The issue size at Rs 46 was 12.26 cr shares which consisted of a fresh issue and a small offer for sale.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 56.25 | 58.40 | 52.90 | 53.70 | 7.70 | 16.74 | 26723028 | 55.41 |
| NSE | 56.10 | 58.00 | 52.90 | 53.60 | 7.60 | 16.52 | 53985661 | 55.43 |
| Total | 80708689 |
The share saw brisk trading and in the first eighty minutes of trade the total traded volume was 8.07 cr shares or roughly 65.8% of the IPO size. Considering the issue size this is excellent volume and the fact that the average trading price is Rs 55.4, which is a gain of Rs 9.40 or 20% over the issue price it is excellent.
The share appears to be slipping marginally and in the last 45 minutes has slipped by about Rs 1.5 and is now trading at Rs 53.53.25
More on the share at the end of the day but it has been a great start for the share today.
