Shares of Fine Organics Limited listed on the bourses on Monday the 2nd of July and gained 5%. The company had tapped the capital markets with its offer for sale of 76.65 lakh shares in a price band of Rs 780-783. The company had allotted 22.99 lakh shares to 15 anchor investors comprising of 23 entities. The issue was subscribed 8.99 times with QIB portion subscribed 12.85 times, HNI portion 21.01 times and Retail portion 1.62 times.

The share made its debut at a price of Rs 815 on both the exchanges. The high of the day on the BSE was Rs 834 while it was Rs 833.70 on the NSE. The low was Rs 787 on BSE and Rs 786.65 on NSE. The close of the day was Rs 822.80 on both the exchanges. The closing rice was a gain of Rs 39.80 per share 0or 5.08% over the issue price of Rs 783. A sedate but sure start for its listing journey.

The traded volume was 66.99 lac shares which was 87.40% of the issue size of 76.65 lakh shares. Delivery volume was 30.77 lakh shares which was 40.15% of the traded volume and 57.35% of the non-anchor portion. As allotment to anchor investors is not saleable for 30 days this is a reasonably high percentage of delivery. The weighted average of the days trade was Rs 812.98 on the BSE and Rs 813.02 on the NSE.

There was one institutional trade reported where Goldman Sachs India Fund bought 2,79,041 equity shares at Rs 815. The share has done reasonable well on day one and one would have to watch the next few days its performance.