Shares of Anupam Rasayan Limited listed on the bourses on Wednesday and had a tough day closing with losses. The company had tapped the capital markets with its fresh issue of Rs 760 crs in a price band of Rs 553-555 received excellent response and was subscribed 45.21 times. QIB portion was subscribed 65.99 times, HNI portion was subscribed 97.78 times and Retail portion was subscribed 10.81 times. There were 16.49 lac applications and based on lots, the retail issue was subscribed 9.43 times.
The company had earlier allotted 40,48,647 equity shares at Rs 555 to 15 anchor investors comprising of 18 entities. The highest allocation was made to Aditya Birla Sunlife who was allotted 10,81,080 equity shares or 26.76% of the anchor allocation. This was followed by Nomura who was allotted 7,18,902 share or 17.76% and Fidelity who was allotted 6,28,776 share or 15.53% of the allocation.
This meant that the top three anchors were allotted a total of 24,28,758 shares or 60.05% of the anchor book.
The share saw a discovered price of Rs 534.70 on BSE and Rs 526.45 on NSE. The traded volume at the discovered price was 1,55,185 shares on BSE and 11,30,441 on NSE. The high of the day on BSE was Rs 548.95, low was Rs 501.15 and the close was Rs 525.90, a loss of Rs 29.10 or 5.24%. On NSE, the high of the day was Rs 548.95, low was Rs 202.25 and the close was Rs 526.80, a loss of Rs 28.20 or 5.08%. The traded volume combined on the two exchanges was 177.18 lac shares which was 1.31 times the IPO size of 134.95 lac shares. Traded volume was 1.88 times the non-anchor portion of 94.46 lac shares. Delivery volume was 51.11 lac shares which was 28.85% of the traded volume. It was 37.88% of the IPO size and 54.11% of the non-anchor portion.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 534.70 | 548.95 | 501.15 | 525.90 | -29.10 | -5.24 | 526.45 | 1582275 | 516630 | 32.65 |
| NSE | 520.00 | 548.95 | 502.25 | 526.80 | -28.20 | -5.08 | 526.44 | 16135816 | 4594968 | 28.48 |
| Total | 17718091 | 5111598 | 28.85 |
The weighted average of the day’s trade on BSE was Rs 526.45 while it was Rs 526.44 on NSE. Trading pattern through the day shows that the delivery as a percentage of the non-anchor portion at 54.11% was lower than normal. Further there were no institutional trades on either of the exchanges on either buy or sell side. This indicates that institutions have neither bought at lower levels nor sold at a marginal discount. The people who have sold could be leveraged HNI’s who lost on the price and the cost of funding. Even those applications which came from treasury desks could have sold out. Probably, Institutions are for the moment holding on, expecting markets to stabilise.
In conclusion, it’s a poor listing and would have dampened the enthusiasm of investors.
