India Pesticides Limited which had tapped the capital markets with its fresh issue of Rs 100 crs and an offer for sale of Rs 700 crs listed on the bourses and had a decent day gaining 15.93% on debut day.
The price band of the issue was Rs 290-296. The issue had opened on Wednesday the 23rd of June and closed on Friday the 25th of June.
Earlier the company had allotted 81,08,107 equity shares at Rs 296 to 12 anchor investors comprising of 16 entities. The highest allocation was made to SBI Mutual Fund who was allotted 21,95,900 shares or 27.08% of the anchor book. There were three entities in this allotment. This was followed by Nippon Mutual Fund who was allotted 13,54,058 equity shares or 16.67% of the anchor book. Here there were two entities. The third highest was to Abu Dhabi Investment Authority who was allotted 10,13,500 shares or 12.50% of the anchor book.
The top three anchor investors comprising of six entities were allotted 45,63,458 equity shares or 56.25% of the anchor book.
The QIB portion was subscribed 43.84 times, HNI portion was subscribed 52.95 times and Retail portion was subscribed 11.54 times. There were 16,59,315 applications and on the basis of lots the retail portion was subscribed 8.59 times. The issue was subscribed 29.66 times overall. Against an issue size of Rs 800 crs the company garnered subscription of Rs 16,800 crs.
The share debuted at Rs 360 on BSE and at this price there was a volume of 2,31,756 shares. On NSE the discovered price was Rs 350 and the volume traded was 24,94,881 shares.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 360.00 | 368.00 | 340.15 | 343.15 | 47.15 | 15.93 | 355.48 | 2122133 | 890253 | 41.95 |
| NSE | 350.00 | 368.00 | 340.05 | 343.15 | 47.15 | 15.93 | 353.58 | 25600715 | 11067257 | 43.23 |
| Total | 27722848 | 11957510 | 43.13 |
The high of the day on BSE was Rs 368, low was Rs 340.15 and the close of the day was Rs 343.15, a gain of Rs 47.15 or 15.93%. The high of the day on NSE was Rs 368, low was Rs 340.05 and the close of the day was Rs 343.15, a gain of Rs 47.15 or 15.93%. The traded volume on the two exchanges was 277.28 lac shares which was 1.03 times the IPO size of 270.27 lacs. It was 1.47 times the non-anchor portion of 189.19 lac shares. Delivery volume was 119.57 lac shares which was 43.13% of the traded volume. It was 44.24% of the IPO size and 63.20% of the non-anchor portion.
Weighted average of the days trade was Rs 355.48 on BSE and Rs 353.58 on NSE, indicating that the share was under some pressure towards the end of days trading. There were no institutional trades reported on either the buy side or the sell side on either of the two exchanges.
The issue had a decent outing gaining 15.93% on day one. The gains have been lower than the recent listings where the gains were between 20 and 24%.
It would be interesting to see how this share performs going forward.
