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 received overwhelming support and was subscribed 182.04 times.

The price band was Rs 1,073-1,083. The issue had opened on Friday the 16th of July and closed on Tuesday the 20th of July.

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 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.

The total amount garnered by this Rs 500 cr issue has raised is a staggering Rs 63,860 crs. The number can at best be described as mind-boggling. It can also be viewed as IPO frenzy and retail investors willing to join in an IPO to be just part of the lottery process. In either case, it should make investors and issuers of capital cautious as we, go forward.

Full details of the subscription are given below: –

G R Infraprojects Limited which had tapped the capital markets with its offer for sale of 1,15,08,704 equity shares, listed on the bourses and had a very successful listing. The company whose price band was Rs 828-837 and had allotted shares at the top end, saw its shares close at Rs 1,746.80 on BSE, a gain of Rs 908.80 or 108.45%. On NSE, the closing price was Rs 1,747.10, a gain of Rs 909.10 or 108.48%.

The discovered price was Rs 1,700.00 on BSE and Rs 1,715.85 on NSE. The traded value at the discovered price was 86,655 shares at BSE and 21,16,088 shares on NSE. The high of the day on BSE was Rs 1,838.80, the low was Rs 1,550.00 while the close was Rs 1,746.80. On NSE, the high was Rs 1,715.85, low was Rs 1,550.00 while the close was Rs 1,747.10.

Earlier the company had allotted 33,85,110 shares at Rs 837 to 22 anchor investors comprising of 47 entities. The highest allocation was made to Smallcap World Fund who was allotted 6,21,282 shares forming 18.35% of the anchor allocation. This was followed by ICICI who was allotted 2,21,051 shares or 6.51% of the anchor allocation. This was followed by an equal allocation of 2,03,099 shares or 6% to 4 investors where one was an FPI and three were domestic entities. These were Abu Dhabi Investment Authority, Nippon India, SBI Mutual Fund and HDFC Mutual Fund.

The top six anchor investors were allotted a total of 16,54,729 equity shares or 48.86% of the anchor book.

The QIB portion was subscribed 168.58 times, HNI portion was subscribed 238.04 times and Retail portion was subscribed 12.57 times. Employee portion was subscribed 1.37 times. There were 23.80 lac applications and on basis of lots the retail portion was subscribed 10.25 times. Overall, the issue was subscribed 102.58 times.

The issue garnered subscription of over Rs 70,100 crs. The HNI portion received bids for Rs 33,763 crs. The issue had opened on Wednesday the 7th of July and closed on Friday the 9th of July.

The total traded quantity on the two exchanges was 147.91 lac shares which was 1.29 times the IPO size of 115.08 lac shares. It was 1.82 times the non-anchor portion of 81.23 lac shares. The delivery volume was 68.13 lac shares which was 46.06% of the traded quantity. It was 59.20% of the IPO size and 83.87% of the non-anchor portion. Weighted average of the day’s trade was Rs 1,705.33 on BSE and Rs 1,710.33 on NSE. The difference between the weighted average and the closing price shows that the share was under no sort of pressure in the last hour of trade.

There was just one institutional trade reported where Nomura bought 5 lac shares at Rs 1,714.60 per share.

The share has performed excellently and lucky investors have made more than double returns. Going forward it would be important for the great showing of day one to continue. For this the performance of the company when it reports results for the quarter ended June 2021 would be very important. Looking at the focus on infrastructure, it should not be a problem for the company to report a decent set of results.

Clean Science Technology Limited which had tapped the capital markets with its offer for sale to raise Rs 1,546.22 listed on the bourses and gained 76.13% at close. The company which had allotted shares at the top end of the price band of Rs 880-900 saw the stock close at Rs 1,585.20, a gain of Rs 685.20 or 76.13% on BSE. On NSE, the closing price was Rs 1,585.25, a gain of Rs 685.25 or 76.14%.

The discovered price was Rs 1,784.40 on BSE and Rs 1,755 on NSE. The traded value at the discovered price was 44,437 shares at BSE and 26,89,924 shares on NSE. The high of the day on BSE was the opening price, the low was Rs 1,555.05 while the close was Rs 1,585.20. On NSE, the high was Rs 1,770.65, low was Rs 1,555.05 while the close was Rs 1,585.25.

Earlier, the company had allotted 51,55,404 shares at Rs 900 to 25 anchor investors comprising of 41 entities. The highest allocation was made to 3 entities equally comprising of 4,44,437 shares or 8.62% of the anchor allocation. These were Government of Singapore, Nomura Trust and Ashoka India Opportunities Fund. This was followed by an allocation of 2,93,101 shares or 5.68% to HDFC mutual Fund, Axis Mutual Fund and SBI Mutual Fund. This was followed by an allocation of 2,77,776 shares or 5.39% to two entities, namely Blackrock and Aberdeen Global.

The issue was subscribed 159.93 times by QIB’s, HNI portion was subscribed 211.12 times and Retail portion was subscribed 9.20 times. Overall, the issue was subscribed 95.54 times. There were 26.94 lac applications and on basis of lots the retail portion was subscribed 7.17 times.

The issue garnered subscription of over Rs 1,03,900 crs. The HNI portion received bids for Rs 49,000 crs. The issue had opened on Wednesday the 7th of July and closed on Friday the 9th of July.

The total traded quantity on the two exchanges was 146.35 lac shares which was 0.85 times the IPO size of 171.80 lac shares. It was 1.22 times the non-anchor portion of 120.24 lac shares. The delivery volume was 79.47 lac shares which was 54.31% of the traded quantity. It was 46.26% of the IPO size and 66.09% of the non-anchor portion. Weighted average of the day’s trade was Rs 1,684.31 on BSE and Rs 1,640.37 on NSE. The difference between the weighted average and the closing price that the share was under pressure in the last hour of trade.

There was just one institutional trade reported where Nomura bought 10 lac shares at Rs 1,715.33 per share.

The share has performed excellently and lucky investors have made more than decent returns. Going forward it would be crucial for the great showing of day one to continue and also the performance of the company when it reports results for the quarter ended June 2021.0-08