Shares of Heranba Industries listed on the bourses and had a decent outing overall. The company had tapped the capital markets with its fresh issue for Rs 60 crs and an offer for sale of 90.15 lac shares, in a price band of Rs 626-627. The issue had received excellent response and was oversubscribed 83.29 times. The issue was subscribed 67.45 times by QIB’s 271.15 times by HNI’s and 11.84 times by Retail investors.
Earlier the company had completed allocation to anchor investors by allotting 29,90,520 equity shares to 15 anchor investors comprising of 18 entities. The highest allocation of 5,58,290 equity shares was made to Government Pension Fund Global. This was 18.67% of the anchor allocation. This was followed by allotment of 3,58,869 equity shares or 12.00% of the allocation to HDFC Mutual Fund. The top two anchor allotments constituted 9.17 lac shares or 30.67% of the anchor portion.
The issue saw a discovered price of Rs 900 on both exchanges. The traded volume was 1.10 lac on BSE and 11.71 lacs on NSE at discovered price. The high of the day was Rs 944.95 on BSE while it was Rs 945 on NSE. The low of the day was 796.35 and Rs 796.55 on the two exchanges respectively. The close of the day was Rs 812.25 on BSE, a gain of Rs 185.25 or 29.55%. On NSE the close was Rs 812.60, a gain of Rs 185.60 or 29.60%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 900.00 | 944.95 | 796.35 | 812.25 | 185.25 | 29.55 | 873.46 | 1714731 | 484596 | 28.26 |
| NSE | 900.00 | 945.00 | 796.55 | 812.60 | 185.60 | 29.60 | 869.55 | 16523452 | 4613993 | 27.92 |
| Total | 18238183 | 5098589 | 27.96 |
The traded volume on the two exchanges combined was 182.38 lac shares which was 1.83 times the IPO size of 99.72 lac shares and 2.61 times the non-anchor portion of 69.81 lac shares. Delivery volume was 50.98 lac shares which was 27.96% of the traded volume. It was 51.13% of the issue size and 73.03% of the non-anchor portion. The weighted average of the day’s trade was Rs 873.46 on BSE while it was Rs 869.55 on NSE. The huge difference between the weighted average and the close on the lower side, indicate the pressure the share was under towards the end of the day.
The share began the day well, but the lack of any names in buying the stock post price discovery, caused the selling pressure towards the end. This pressure is likely to persist when trading resumes on Monday.
