Bharat Road Networks Limited (BRNL) had tapped the capital markets with its fresh issue for 2.93 cr shares in a price band of Rs 195-205. There was no anchor allocation. The issue was subscribed 1.81 times with QIB portion subscribed 1.33 times, HNI 1.63 times and Retail 5.69 times.

The issue made its debut on the bourses on Monday at Rs 204.90 on the BSE and Rs 205 on the NSE. The lows of the day were made at Rs 196.50 and 195.35 before a strong rally saw the shares gain over 6 %. The highs made were Rs 218.65 and Rs 219 respectively. Profit taking thereafter saw the gains being pruned and the share closing at Rs 208.15 and Rs 208.45. Gains on day one were Rs 3.15 and 3.45 and in percentage terms 1.54% and 1.68% respectively.

What is interesting is the volume traded at 3.97 cr shares which is 1.36 times the IPO size. The delivery volume was 1.32 cr shares or 33.32% of the traded volume. In terms of the IPO size the same was 45.17%. Huge and significant volumes.

TABLE TO BE ATTACHED
The weighted average was at Rs 208.99 on the BSE and Rs 209.18 on the NSE indicating the volume which took place when the share rose from the lows to touch the highs. Retail investors who applied in large numbers have made their money. The issue has survived on day one and records would state that this was not an issue which closed below its listing price.