Shares pf Macrotech Developers Limited listed on the bourses and had a muted listing. The company had tapped the capital markets with its fresh issue for Rs 2,500 crs, in a price band of Rs 483-486. The share had a pre-discovery price of Rs 439 on BSE and Rs 436 on NSE. The share closed at Rs 463.15 on BSE and Rs 465.25 on NSE.
The issue was subscribed 1.37 times. The QIB portion was subscribed 3.06 times, HNI portion was subscribed 1.45 times, Retail portion was subscribed 0.40 times and Employee portion was subscribed 0.17 times. There were 1.67 lac applications. Earlier the company had completed allocation to anchor investors. The company allotted 1,52,46,913 shares to 14 anchor investors comprising of 21 entities at Rs 486. The highest allocation was made to Nomura and Ivanhoe OP who were allotted 23.85 lac shares a piece or 15.64% of the anchor allocation. Smallcap World Fund along with American Funds was also allotted 23.85 lac shares or 15.64% of the anchor book. This was followed by Wellington Trust who was allotted 13.41% along with two other funds. The top four anchors were allotted 60.33% of the anchor book.
The issue had opened on Wednesday the 7th of April and closed on Friday the 9th of April.
The discovered price was Rs 439 on BSE at which price, 9,836 shares were traded. The high of the day on BSE was Rs 477.90, low was Rs 421.15 and the close was Rs 463.15, a loss of Rs 22.85 or 4.70%. On NSE, the discovered price was Rs 436 at which price, 8,30,980 shares were traded. The high was Rs 478, low was Rs 422.60 and the close was Rs 465.25, a loss of Rs 20.75 or 4.27%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 439.00 | 477.90 | 421.15 | 463.15 | -22.85 | -4.70 | 462.96 | 332874 | 106550 | 32.01 |
| NSE | 436.00 | 478.00 | 422.60 | 465.25 | -20.75 | -4.27 | 464.15 | 11051365 | 6643235 | 60.11 |
| Total | 11384239 | 6749785 | 59.29 |
The traded volume on the two exchanges combined was 113.84 lac shares which was 22% of the IPO size of 514.40 lac shares. It was 31% of the non-anchor portion which was 361.93 lac shares. Delivery volume was 67.49 lac shares which was 59.29% of the traded volume. It was 13.12% of the IPO size and 18.65% of the non-anchor portion. Weighted average of the day was Rs 462.96 on BSE and Rs 464.16 on NSE. There were no institutional trades reported on either the buy or the sell side on either of the two exchanges.
Considering the fact that markets fell sharply on Monday on the back of sharp rise in covid-19 cases, the share performance on listing day could be considered as reasonable. With hardly any pressure from retail investors or HNI’s as there was no leveraging, the share could breathe easy going forward. It would be interesting to see how the share fares going further.
