Tatva Chintan Pharma Chem Limited which had tapped the capital markets with its fresh offer for Rs 225 crs and an offer for sale of Rs 275 crs listed on the bourses and recorded a spectacular performance. Shares listed at Rs 2,111.80 on BSE and at Rs 2,111.85 on NSE. The traded volume at the discovered price was 62,390 shares at BSE and 6,45,663 shares on NSE.

The price band of the issue was Rs 1,073-1,083. The issue had opened on Friday the 16th of July and closed on Tuesday the 20th of July. It had received overwhelming support and was subscribed 182.04 times. The QIB portion was subscribed 186.96 times, HNI portion was subscribed 516.99 times and Retail portion was subscribed 35.68 times. The issue garnered 32.44 lac applications and this is a new record by itself. This incidentally beats the number of applications that an issue which was almost 15 times bigger in size, Zomato, received a slightly higher number of applications. On the basis of number of applications, the issue was subscribed 26.10 times.

Earlier the company had completed allocation to anchor investors by allotting 13,85,040 shares amongst 15 anchor investors equally. These anchor investors consisted of 22 entities. There were 7 domestic funds in the total allocation. The allocation is 6.67% or 92,339 shares rounded off to make 100% of the anchor.

The high of the day on BSE was Rs 2,486.30, the low was the opening price of Rs 2,111.80 and the close was Rs 2,310.25. The gain was Rs 1,227.25 or 113.32%. On NSE, the high of the day was Rs 2,534.20, low was the open of the day of Rs 2,111.85 and the close was Rs 2,312.20 a gain of Rs 1,229.20 or 113.50%.

Rolex Rings Limited which is tapping the capital markets with its fresh issue of Rs 56 crs and an offer for sale of 75 lac shares completed allocation to anchor investors. The company allotted 24,36,666 shares to 15 anchor investors comprising of 26 entities. The price band is Rs 880-900. The issue is open from Wednesday the 28th of July to Friday the 30th of July.

The highest allocation was made to Kotak Mutual Fund who was allotted 11.30% of the anchor book. This was followed by allotment of 2,44,432 shares or 10.03% to HDFC Mutual Fund, SBI Mutual Fund and ICICI Prudential Mutual Fund.

The top four anchor investors were allotted 51.52% of the anchor portion.

The full details of the anchor allocation and allotment is given below: –

Glenmark Life Sciences Limited which is tapping the capital markets with its fresh issue for Rs 1,060 crs and an offer for sale of 63 lac shares in a price band of Rs 695-720, completed allocation to anchor investors. The company on Monday had allotted 63,06,660 shares to 19 anchor investors at the top end of the price band. The issue has opened on Tuesday the 27th of July and would close on Thursday the 29th of July.

The highest allocation was to Polar Capital Fund who was allotted 14,46,060 shares or 22.1% of the anchor book. This was followed by NT Asian Discovery Master Fund who was allotted 9,25,020 shares or 14.7% and HSBC Global Investment Fund who was allotted 8,06,580 equity shares or 12.8%. The top four anchor investors have been allotted 61.9% of the anchor book. At the bottom end, 7 funds have each been allotted 1.1% of the anchor book, indicating strong demand for the issue.

While domestic mutual funds are missing from the list, it appears that they chose to opt out on reasons of pricing. This seems odd when the difference in the top and bottom of the price band (720-695) is Rs 25 and is just 3.5% of the price. When every issue listing at the bourses records gains of 30% plus on day one why this is a concern? Strange are the ways of mutual funds.

Full details of the anchor allotment is given below: –