Ami Organics Limited which had tapped the capital markets with its fresh issue of Rs 200 crs and an OFS for 60,59,600 shares in a price band of Rs 603-610 listed on the bourses and closed with gains of Rs 324.55 or 53.20%. The discovered price on BSE was Rs 902, at which price 80,213 shares were traded. On NSE, the discovered price was Rs 910, at which price 15,80,125 shares were traded.

The company had earlier completed allocation to anchor investors. The company allotted 28,01,485 shares to 15 anchor investors comprising of 20 entities at Rs 610. The issue had opened on Wednesday the 1st of September and closed on Friday the 3rd of September.

The highest allocation was made to State Bank of India who was allotted 4,09,848 shares or 14.63% of the anchor book to two entities. This was followed by four anchor investors who were each allotted 2,45,904 shares or 8.78% of the anchor book. This was followed by SBI Life Insurance who was allotted 2,29,032 shares or 8.18% of the anchor book. This effectively meant that the top seven investors were allotted 64.38% of the anchor book.

The QIB portion was subscribed 86.02 times, HNI portion was subscribed 155.44 times and Retail portion was subscribed 13.42 times. The number of applications received were 15.52 lacs.

The high of the day on BSE was Rs 967.25, the low was Rs 841.20 and the close was Rs 934.55. The gain was Rs 324.55 or 53.20%. On NSE, the high of the day was Rs 966.70, low was Rs 841 and the close was Rs 935 a gain of Rs 325 or 53.28%.

The traded volume on the two exchanges combined was 131.61 lac shares which was 1.41 times the IPO size of 93.38 lac shares and 2.01 times the non-anchor portion of 63.36 lac shares. Delivery volume was 59.11 lac shares which was 44.91% of the traded volume. It was 63.30% of the issue size and 90.43% of the non-anchor portion. The weighted average of the day’s trade was Rs 912.99 on BSE and Rs 914.90 on NSE.

In terms of institutional trade none were reported on either BSE or NSE. However, Twenty First Century Shares and Securities Limited bought 5 lac shares at Rs 910.60 on BSE. The same connected entity under the name Vanaja Sundar bought 5 lac shares at Rs 910 on NSE. Another entity Vanaja Sundar Iyer bought 4 lac shares at Rs 909.97. This effectively meant that 14 lac shares were bought.

The share had a great start as the listing or discovered price was at almost 48% higher than the issue price. As the day progressed with gains in the broader market, this share too performed better and manged to have a great day clocking gain of between 53-54%. The cause for concern at the end of the day remains the high delivery volumes and this could lead to a short squeeze in the coming days. Whether the valuations at these elevated levels could be justified, are a major concern.

While speciality chemicals are doing well the market seems to be pressing the pedal in these issues, rightly or wrongly.

Vijaya Diagnostics Limited which had tapped the capital markets with its OFS for 3,56,88,064 shares in a price band of Rs 522-531 listed on the bourses and closed with gains of Rs 88.30 or 16.63%. The discovered price on BSE was Rs 542.30, at which price 56,796 shares were traded. On NSE, the discovered price was Rs 540, at which price 22,20,048 shares were traded.

The company had earlier completed allocation to anchor investors. The company allotted 1,06,61,418 shares to 29 anchor investors comprising of 41 entities at Rs 531. The issue had opened on Wednesday the 1st of September and closed on Friday the 3rd of September.

The highest allocation was made to Fidelity who was allotted 18,75,360 shares or 17.60% of the anchor book to three entities. This was followed by Goldman Sachs who was allotted 5.28% of the anchor book. This was followed by seven Indian mutual funds who were each allotted 4.40% or 4,68,832 shares. This effectively meant that the top nine investors were allotted 53.68% of the anchor book.

The QIB portion was subscribed 13.07 times, HNI portion was subscribed 1.32 times and Retail portion was subscribed 1.09 times. Employee portion was subscribed 0.98 times. The number of applications received were 3.91 lacs.

The high of the day on BSE was Rs 650.75, the low was Rs 533.65 and the close was Rs 619.30. The gain was Rs 88.30 or 16.63%. On NSE, the high of the day was Rs 648, low was Rs 532.50 and the close was Rs 620.10 a gain of Rs 89.10 or 16.78%.

The traded volume on the two exchanges combined was 232. 73 lac shares which was 0.65 times the IPO size of 356.88 lac shares and 0.93 times the non-anchor portion of 250.26 lac shares. Delivery volume was 118.26 lac shares which was 50.82% of the traded volume. It was 33.14% of the issue size and 47.25% of the non-anchor portion. The weighted average of the day’s trade was Rs 594.72 on BSE and Rs 587.37 on NSE.

In terms of institutional trade none were reported on either BSE or NSE.

Share had a poor start as the listing or discovered price was marginally higher than the issue price. As the day progressed with gains in the broader market, this share too performed better and manged to have a decent day clocking gain of between 16-17%. The cause for concern at the end of the day remains the poor delivery volumes and this could lead to pressure in the coming days.

The response even in subscription was lacklustre other than that from QIB’s. Considering that there was no selling pressure on day one from HNI’s or Retail investors the share has fared reasonably.