Shyam Metalics and Energy Limited listed its shares and gained 22.83%. The company saw its shares debut at Rs 367 on BSE and Rs 380 on NSE. They closed the day at Rs 375.85 and Rs 376.15 respectively.
The company had tapped the capital markets with its fresh issue of Rs 657 crs and an offer for sale of Rs 252 crs and received excellent response by being subscribed 120.93 times. The price band of the issue which had opened on Monday the 14th of June and closed on Wednesday the 16th of June was Rs 303-306.
Earlier the company had allotted 88,21,764 equity shares to 21 anchor investors comprising of 22 entities. The highest allocation was made to Nippon India Mutual Fund of 8,49,645 equity shares or 9.63%. This was followed by Ashoka India Opportunities Fund who was allotted 8,16,975 shares or 9.26% of the anchor book. Shares to anchor investors were allotted at the top end of the price band at Rs 306.
The issue saw QIB’s subscribing to the issue 153.45 times, HNI portion was subscribed 339.98 times and the Retail portion was subscribed 11.64 times. The employee portion was subscribed 1.53 times. There were 21.13 lac applications, and on the basis of forms the retail portion was subscribed 9.15 times. The funding cost for leveraged investors is in the range of Rs 130-135.
The opening price of Rs 367 on BSE, saw 1.03 lac shares being traded. Similarly, on NSE the opening price of Rs 380 saw 20.95 lac shares being traded. The high on BSE was Rs 399.10, low was Rs 367 the opening price and the close was Rs 375.85, a gain of Rs 69.85 or 22.83%.
The high on NSE was Rs 399, the low was Rs 370 and the close was Rs 376.15, a gain of Rs 70.15 or 22.92%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 367.00 | 399.10 | 367.00 | 375.85 | 69.85 | 22.83 | 382.98 | 1973733 | 712956 | 36.12 |
| NSE | 380.00 | 399.00 | 370.00 | 376.15 | 70.50 | 22.92 | 383.08 | 27035744 | 10442453 | 38.62 |
| Total | 29009477 | 11155409 | 38.45 |
The combined traded volume on the two exchanges was 290.09 lac shares which was 0.98% of the IPO size of 297.05 lacs. Weighted average of the day’s trade was Rs 382.98 on BSE and Rs 383.08 on NSE. The traded volume was 1.39 times of the non-anchor portion of 208.84 lac shares. Delivery volume was 111.53 lac shares which was 38.45% of traded volume. It was 37.55% of the IPO size and 53.42% of the non-anchor IPO size. The share traded in a fairly small range considering it was the listing day.
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 sedate and leveraged HNI’s have lost substantial money. Going forward, the company is likely to report results for the March21 quarter and also the April-June quarters which should help the stock price.
All in all, a quiet and sedate start to its listed journey on the bourses by Shyam Metalics and Energy Limited.
