Craftsman Automation Limited which had tapped the capital markets with its fresh issue of Rs 150 crs and an offer for sale of 45,21,450 equity shares saw its share list and lose 3.83% on day one. The issue was subscribed 3.82 times. The issue had opened on Monday the 15th of March and closed on Wednesday the 17th of March. The price band was Rs 1,488-1,490.

QIB portion was subscribed 5.21 times, HNI portion was subscribed 2.84 times and Retail portion was subscribed 3.44 times. There were 5.41 lac applications and based on lots, Retail portion was subscribed 2.80 times.

Earlier the company had allotted 16,58,447 equity shares at the top end of the band of Rs 1,490 to 15 anchor investors comprising of 21 entities.

The highest allocation was made to Pioneer Investment Fund who was allotted 3,69,120 equity shares or 22.3% of the anchor allocation. This was followed by Nomura who was allotted 2,34,890 equity shares or 14.2% of the anchor book. This was followed by three anchor investors being given an identical 9.3% or 1,54,360 equity shares. These investors were Nippon Mutual Fund, Aditya Birla Sun Life and ICICI Prudential.

The discovered price was Rs 1,350 on BSE and Rs 1,359 on NSE. The traded volume at the discovered price was 6,542 shares on BSE and 1,41,853 shares on NSE. The high of the day on BSE was Rs 1,489, low was Rs 1349.20 and the close was Rs 1,433, a loss of Rs 57 or 3.83%. On NSE, the high was Rs 1,490, the low was Rs 1,350 and the close was Rs 1,435.60, a loss of Rs 54.40 or 3.65%.

The traded volume on the two exchanges combined was 36.54 lac shares. This was 0.66 times the IPO size of 55.28 lac shares. It was 0.94% of the non-anchor portion of 38.69 lac shares. Delivery volume was 15.17 lac shares which was 41.53% of traded volume. It was 27.45% of the IPO size and 39.21% of the non-anchor portion. Delivery volume was certainly on a lower side and this could be attributed to the fact that the listing was marginally lower, and people believe that going forward the share could recover.

The weighted average of the day’s trade was Rs 1,433.60 on BSE and Rs 1,437.59 on NSE. The weighted averages were quite close to the actual closing price, signifying that the share traded in a small range barring the time when it hit a low.

There was one institutional trade on the sell side where Integrated Core Strategies Asia PTE Limited sold 3.09 lac shares at Rs 1,428.35 on NSE.

In conclusion, the share traded with a small negative bias losing just under 4% on day one. Delivery volumes are poor indicating that people are waiting to see the price stabilise before taking a call. With no leveraged funds being used to apply for the issue, the share would not be under pressure even though the share trades lower.

Shares of Anupam Rasayan Limited listed on the bourses on Wednesday and had a tough day closing with losses. The company had tapped the capital markets with its fresh issue of Rs 760 crs in a price band of Rs 553-555 received excellent response and was subscribed 45.21 times. QIB portion was subscribed 65.99 times, HNI portion was subscribed 97.78 times and Retail portion was subscribed 10.81 times. There were 16.49 lac applications and based on lots, the retail issue was subscribed 9.43 times.

The company had earlier allotted 40,48,647 equity shares at Rs 555 to 15 anchor investors comprising of 18 entities. The highest allocation was made to Aditya Birla Sunlife who was allotted 10,81,080 equity shares or 26.76% of the anchor allocation. This was followed by Nomura who was allotted 7,18,902 share or 17.76% and Fidelity who was allotted 6,28,776 share or 15.53% of the allocation.

This meant that the top three anchors were allotted a total of 24,28,758 shares or 60.05% of the anchor book.

The share saw a discovered price of Rs 534.70 on BSE and Rs 526.45 on NSE. The traded volume at the discovered price was 1,55,185 shares on BSE and 11,30,441 on NSE. The high of the day on BSE was Rs 548.95, low was Rs 501.15 and the close was Rs 525.90, a loss of Rs 29.10 or 5.24%. On NSE, the high of the day was Rs 548.95, low was Rs 202.25 and the close was Rs 526.80, a loss of Rs 28.20 or 5.08%. The traded volume combined on the two exchanges was 177.18 lac shares which was 1.31 times the IPO size of 134.95 lac shares. Traded volume was 1.88 times the non-anchor portion of 94.46 lac shares. Delivery volume was 51.11 lac shares which was 28.85% of the traded volume. It was 37.88% of the IPO size and 54.11% of the non-anchor portion.

The weighted average of the day’s trade on BSE was Rs 526.45 while it was Rs 526.44 on NSE. Trading pattern through the day shows that the delivery as a percentage of the non-anchor portion at 54.11% was lower than normal. Further there were no institutional trades on either of the exchanges on either buy or sell side. This indicates that institutions have neither bought at lower levels nor sold at a marginal discount. The people who have sold could be leveraged HNI’s who lost on the price and the cost of funding. Even those applications which came from treasury desks could have sold out. Probably, Institutions are for the moment holding on, expecting markets to stabilise.

In conclusion, it’s a poor listing and would have dampened the enthusiasm of investors.

Barbeque Nation Hospitality Limited which is tapping the capital markets with its fresh issue of Rs 180 crs and an offer for sale of 54.57 lac shares completed allocation to anchor investors. The price band is Rs 498-500. The company allotted 40,57,861 equity shares to 15 anchor investors comprising of 21 entities.

Each investor was given 2,70,510 equity shares or 6.67% of the anchor allocation. The anchor investors consisted of 7 foreign portfolio investors, 5 mutual funds, 2 Alternative investment Funds and 1 Life insurance company.

The issue has opened on Wednesday the 24th of March and would close on Friday the 26th of March.

Details of the anchor allocation are given below: –