Indian Energy Exchange Limited (IEX) which is tapping the capital markets with its offer for sale completed allocation to anchor investors. The company is offering 60,65,009 shares through an offer for sale in a price band of Rs 1645-1650.
The company allotted 18,19,501 equity shares to 25 anchor investors comprising of 28 entities.

The highest allocation has been made to Smallcap World Fund who has been given 13.32% of the anchor allocation. Domestic mutual funds collectively have been given 33.38% of the total allocation.

The issue is being offered at a PE multiple of 43.81 times based on financial year ended March 2017 earnings. The issue opens on Monday the 9th of October and closes on Wednesday the 11th of October
The full list of anchor allotment is given below: –

Prataap Snacks Limited better known by its Yellow Diamond brand of snacks, potato chips and extruded products listed on the bourses and had a great debut. Shares were issued at a price of Rs 938. They opened at a level of Rs 1250 on the BSE and Rs 1270 on the NSE.
The high was Rs 1317.05 and Rs 1318.80 respectively. The lows were Rs 1137 and Rs 1133.70. The final close at Rs 1178.50 and Rs 1180.65 respectively, a gain of Rs 240.50 or 25.64% on the BSE and Rs 242.65 or 25.87% on the NSE.

The company had tapped the capital markets with its simultaneous offer to raise fresh equity for Rs 200 crs and an offer for sale of 30.05 lakh shares. The company had allotted 15.28 lakh shares to 15 anchor investors comprising of 25 entities. The public issue was very well received and was subscribed an overall 47 times with the QIB portion subscribed 76.89 times, HNI 101.15 times and Retail 8.48 times.

The traded volume was 109.30 lakhs which was 2.12 times the IPO size. Delivery volume was 26.78 lakhs which was 24.50% of the traded volume and 52.13% of the IPO size. Adjusted for only non-anchor portion the delivery was a massive 74.21% which implies that even QIB’s have booked profits on day one.

From the table above one can see that the weighted average of the day’s trade was Rs 1231.36 on the BSE and Rs 1236.14 on the NSE substantially higher than the close of the day, indicating that there was selling pressure in the last hour of trading. The days close was Rs 1178.50 and Rs 1180.65 respectively which means that the net gain for the day was a good Rs 240.50 or Rs 242.65 on the two exchanges. In percentage terms this was 25.64% and 25.87% respectively. Good performance by all standards.

In terms of institutional trade there were two on the buy side where SBI Mutual Funds bought 4.40 lakh shares at Rs 1272.68 and Smallcap Wonder Fund bought 4,25,525 shares at Rs 1245.67 respectively.

The share is likely to gain from current levels in the coming days.

The issue from Godrej Agrovet Limited received excellent support and was subscribed 95.41 times. The company had tapped the capital markets with its simultaneous offer.
The issue had a fresh issue component of Rs 291.51 crs, an offer for sale by Godrej Industries of Rs 300 crs and an offer for sale by the PE investor of 1.23 cr shares. The price band was Rs 450-460, The issue had opened on Wednesday the 4th of October and closed on Friday the 6th of October.

Earlier the company had allotted 74,17,254 equity shares to 25 anchor investors comprising of 32 entities.

The issue saw subscription in the QIB category of 150.96 times, HNI 236.04 times and Retail 7.67 times. The issue received 14.75 lakh applications and on basis of lot was subscribed 5.45 times. Ths subscription by retail should be termed as excellent as most members of a large investor community did not apply because the company deals with non-vegetarian products.

Full details of the subscription is given below:-