India Pesticides Limited which had tapped the capital markets with its fresh issue of Rs 100 crs and an offer for sale of Rs 700 crs received decent support and was subscribed 29.66 times. The price band of the issue was Rs 290-296. The issue had opened on Wednesday the 23rd of June and closed on Friday the 25th of June.

Earlier the company had allotted 81,08,107 equity shares at Rs 296 to 12 anchor investors comprising of 16 entities. The highest allocation was made to SBI Mutual Fund who was allotted 21,95,900 shares or 27.08% of the anchor book. There were three entities in this allotment. This was followed by Nippon Mutual Fund who was allotted 13,54,058 equity shares or 16.67% of the anchor book. Here there were two entities. The third highest was to Abu Dhabi Investment Authority who was allotted 10,13,500 shares or 12.50% of the anchor book.

The top three anchor investors comprising of six entities were allotted 45,63,458 equity shares or 56.25% of the anchor book.

The QIB portion was subscribed 43.84 times, HNI portion was subscribed 52.95 times and Retail portion was subscribed 11.54 times. There were 16,59,315 applications and on the basis of lots the retail portion was subscribed 8.59 times. Against an issue size of Rs 800 crs the company garnered subscription of Rs 16,800 crs.

Full details of the subscription in different buckets is given below: –

Sona BLW Precision Forgings Limited listed its shares and saw them gain 24.69% on listing day. The company saw its shares debut at Rs 302.45 on BSE and Rs 301 on NSE. They closed the day at Rs 362.85 and Rs 361.20 respectively.

The company which had tapped the capital markets with its fresh issue of Rs 300 crs and an offer for sale of Rs 5,250 crs, in a price band of Rs 286-291 was subscribed 2.28 times. The issue had opened on Monday the 14th of June and closed on Wednesday the 16th of June.

Earlier the company had allotted 8,58,24,742 equity shares to 56 anchor investors comprising of 83 investors at Rs 291. The highest allocation was made to Government of Singapore who was allotted 1,08,29,748 equity shares or 12.6% of the anchor book. Associate of the same investor, Monetary Authority of Singapore was allotted 29,67,486 shares or 3.5% of the anchor book. Three domestic funds were allotted a similar 7.1% of the anchor book each. They were SBI Mutual Fund, Aditya Birla Sunlife Mutual Fund and Axis Mutual Fund. Therefore, the top four anchor investors were allotted 37.5% of the anchor book.

The issue was subscribed 3.46 times by QIB, 0.39 times by HNI’s and 1.58 times by Retail investors. There were 4.46 lac application and on the basis of lots the retail portion was subscribed 1.17 times.

The opening price of Rs 302.45 on BSE, saw 2.31 lac shares being traded. Similarly, on NSE the opening price of Rs 301 saw 46.49 lac shares being traded. The high on BSE was Rs 362.85, low was Rs 295.15 and the close was Rs 362.85, a gain of Rs 71.85 or 24.69%.

The high on NSE was Rs 361.20, the low was Rs 295 and the close was Rs 361.20, a gain of Rs 70.20 or 24.12%.

The combined traded volume on the two exchanges was 468.44 lac shares which was 24% of the IPO size of 1929.30 lacs. Weighted average of the day’s trade was Rs 349.70 on BSE and Rs 331.63 on NSE. The traded volume was 44% of the non-anchor portion of 1071.05 lac shares. Delivery volume was 214.73 lac shares which was 45.84% of traded volume. It was 11.13% of the IPO size and 20.05% of the non-anchor IPO size. The share hit upper circuit even before 11 am in the morning, and even though the circuit opened for a flick of a second twice, share was locked at upper circuit. Volumes traded could have been higher but for the circuit.

There were no bulk deals reported on either of the exchanges on either the buy or sell side. The performance on listing day has been much better than expected and with there being no leveraged HNI’s, selling pressure on the counter was non-existent.

All in all, a positive and encouraging start to its listed journey on the bourses by Sona BLW Precision Forgings Limited.