Sigachi Industries Limited which had tapped the capital markets with its fresh issue for 76.95 lac shares in a price band of Rs 161-163 was subscribed 101.91 times. The company created history with its shares gaining a massive 270.40% on debut. This is the best performance in the last 12-13 years. The discovered price on BSE was Rs 575 at which price 68,242 shares were traded. On NSE, the discovered price was Rs 570 at which price 8,92,690 shares were traded.

The company had earlier completed allocation to anchor investors. The issue had opened on Monday the 1st of November and closed on Wednesday the 3rd of November.

The company allotted 23,08,500 equity shares amongst two anchor investors equally. They are 3 Sigma Global Fund and Nexus Global Opportunities Fund Limited which were each allotted 11,54,250 shares at the top end of the price band of Rs 163.

The QIB portion was subscribed 86.51 times, HNI portion was subscribed 172.43 times and the Retail portion was subscribed 80.49 times. The overall issue was subscribed 101.91 times. There were 20,72,674 applications and on basis of lots, the retail portion was subscribed 69.26 times.

The share would trade in a trade-to-trade mode for ten trading sessions as the size of the issue is under Rs 250 crs. The pattern witnessed in the share was identical to the recently listed Paras Defence which was issued at Rs 175. The share hit a high of Rs 1,272.05 before correcting itself and now trades at Rs 789.55.

The high on BSE was Rs 603.75, the low was Rs 570.45 and the close was Rs 603.75. On NSE, the high was Rs 598.50, the low was Rs 570 and the close was Rs 598.50. The traded volume on the two exchanges combined was 20.60 lacs which was 27% of the issue size of 76.95 lac shares and 38.25% of the non-anchor size of 38.25%. Delivery volume was 100% of the traded volume as the share is in a trade-to-trade category. A weighted average of the share was Rs 599.59 on BSE and Rs 581.43 on NSE.

The share has had a phenomenal start at the bourses. On hopes that the share has financial performance which match the price-performance as well.

Tarsons Products Limited who is tapping the capital markets with its fresh issue for Rs 150 crs and an offer for sale of 1.32 cr shares in a price band of Rs 635-662 completed allocation to anchor investors. The company allotted 46,21,757 shares at Rs 662 to 32 entities. The highest allocation was made to Government of Singapore who was allotted 8.66% of the anchor book with its associate, Monetary authority of Singapore who was allotted 4.41%. The total allotted was 13.05% of the anchor book.

This was followed by 9.80% allotted to First Sentier Investors ICVC 9.80% of the anchor book. This was followed by an identical allotment of 9.80% to two domestic mutual funds who were allotted 9.64% each. They were ICICI Prudential and Aditya Birla Sun Life AMC. The top four anchor investors were allotted 42.13% of the anchor book.

The issue opens on Monday the 15th of November and closes on Wednesday the 17th of November.

Seven domestic mutual funds through 19 schemes were allotted 45.64% of the anchor book.

Full details of the anchor allocation are given below: –

Fino Payments Bank Limited which had tapped the capital markets with its fresh issue of Rs 300 crs and an offer for sale of 1,56,02,999 equity shares in a price band of Rs 560-577 debuted on the bourses, and at end of day lost 5.5%. The issue which was allotted at RS 577 saw the share close at Rs 545.25, a loss of Rs 31.75 or 5.5%. The discovered price on BSE was Rs 548 at which price 6,283 shares were traded while on NSE it was Rs 544.35, at which price 98,258 shares were traded. The issue garnered Rs 1200.29 crs at the allotted price. The issue had opened on Friday the 29th of October and closed on Tuesday the 2nd of November. Earlier it had completed allocation to anchor investors.

The company has allotted 93,37,641 equity shares to 13 anchor investors comprising of 29 entities. This includes 5 domestic mutual funds comprising of 17 entities who were allotted 39.05% of the anchor allocation. The top allocations were made to Fidelity who was allotted 16.67% of the anchor book followed by Pinebridge who was allotted 15.75%. This was followed by the domestic funds led by Aditya Birla who was allotted 12.96% and Motilal Oswal who was allotted 9.44%. The top four anchor investors were allotted 54.82% of the anchor book.

The QIB portion was subscribed 1.65 times, HNI portion was undersubscribed at 0.21 times, Retail portion was subscribed 5.92 times while Employee portion was subscribed 0.93 times. There were 3.95 lac applications in all.

The high of the day on BSE was Rs 583.55, the low was Rs 510.80 and the close was Rs 545.25. The loss was Rs 31.75 or 5.50%. On NSE, the high of the day was Rs 582.95, low was Rs 511.05 and the close was Rs 543.90 a loss of Rs 33.10 or 5.74%.

The traded volume on the two exchanges combined was 107.37 lac shares which was 0.52 times the IPO size of 208.02 lac shares and 0.94 times the non-anchor portion of 114.64 lac shares. Delivery volume was 37.06 lac shares which was 34.52 % of the traded volume. It was 17.82 % of the issue size and 32.33 % of the non-anchor portion. The weighted average of the day’s trade was Rs 542.36 on BSE and Rs 542.10 on NSE.

In terms of institutional trades, two trades on the sell side were reported on NSE. In the first, Société Générale sold 12,10,187 shares at Rs 528.86 on NSE. In the second trade, BNP Paribas Arbitrage fund sold on a net basis 9,52,680 shares at Rs 544.85 also on NSE.

The share has had a poor listing and what is currently worrisome is the fact that delivery volumes are very poor. Just about a third of the non-anchor has been delivered which means that the delivery must pick up for the overhang to get absorbed.