Shares of Varroc Engineering Limited began trading and had a decent outing, closing with gains of 7.59%. The company had tapped the capital markets with its offer for sale of 202.21 lac shares in a price band of Rs 965-967. The company had in its anchor allocation, allotted 60.36 lac shares to 20 anchor investors comprising of 30 entities.
The issue was subscribed 3.59 times with the QIB portion subscribed 9.16 times. HNI portion was subscribed 2.45 times. Retail and employee portion remain undersubscribed at 0.95 times and 0.65 times respectively.
Trading began with the discovered price being Rs 1,032.80 on the BSE and Rs 1,015 on the NSE. The high was Rs 1,062 on the BSE and Rs 1,061.65 on the NSE. The low was an identical Rs 1,000.00 on both the exchanges. The close was Rs 1,040.35 on the BSE, a gain of Rs 73.35 or 7.59%. The close on the NSE was Rs 1,037.35, a gain of Rs 70.35 or 7.28%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 1032.80 | 1062.00 | 1000.00 | 1040.35 | 73.35 | 7.59 | 1028.62 | 2275292 | 1112444 | 48.89 |
| NSE | 1015.00 | 1061.65 | 1000.00 | 1037.35 | 70.35 | 7.28 | 1026.76 | 14543041 | 6409602 | 44.07 |
| Total | 16818333 | 7522046 | 44.73 |
The combined traded volume was 168.18 lac shares which was 83.17% of the IPO size or 118.56% of the non-anchor portion. Delivery volume was 75.22 lac shares which was 44.73% of the traded volume and 37.20% of the IPO size. If one considers the non-anchor portion t was 53.03%. The weighted average of the days trade was Rs 1,028.62 on the BSE and Rs 1,026.76 on the NSE. There was one institutional trade where Nomura India bought 11.07 lac shares on the NSE.
A decent show by Varroc on listing day.
