Shares of Rail Vikas Nigam Limited or RVNL listed on the bourses yesterday. The company had tapped the capital markets through an offer for sale of 25,34,57,280 equity shares in a price band of Rs 17-19. There was a discount of Rs 0.50 for retail investors and eligible employees. The issue was open from Friday the 29th of March and closed on Wednesday the 3rd of April.
The issue was subscribed 1.83 times overall. The QIB portion was subscribed 1.36 times. HNI portion undersubscribed at 0.80 times, Retail portion subscribed 2.12 times and Employee portion subscribed 2.12 times. There were 2,19,380 application forms and on the basis of forms the retail portion was subscribed 1.93 rimes.
The discovered price on both the exchanges was Rs 19.00. The high was Rs 19.05 on the BSE while the low was Rs 18.60. On the NSE the high was Rs 19.80 while the low was Rs 18.65. The close on both the exchanges was Rs 19.05, a gain of Rs 0.05 or 0.26%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 19.00 | 19.75 | 18.60 | 19.05 | 0.05 | 0.26 | 19.20 | 11152232 | 4646808 | 41.67 |
| NSE | 19.00 | 19.80 | 18.65 | 19.05 | 0.05 | 0.26 | 19.23 | 89144982 | 34425382 | 38.62 |
| Total | 100297214 | 39072190 | 38.96 |
The traded volume on the two exchanges combined was 10.02 cr shares which was 38.95% of the IPO size of 25.34 cr shares. Delivery volume was 3.90 cr shares which was 38.96% of traded volume and 15.42% of the issue size. The traded volumes and delivery volumes were healthy. The only thing negative was that the traded range was quite poor, a mere Rs 1.15 and yet we saw such huge volumes.
This could probably because the share price point at Rs 19 makes it a tempting price to trade. Well first day, nothing significant has happened and a little over a sixth of the issue sized has changed hands. We need to track this counter for a week before forming any views.
