Neogen Chemical Limited which had tapped the capital markets with its simultaneous offer for sale and fresh issue had a great listing on Wednesday the 8th of May. The company had offered for sale 29 lakh shares and a fresh issue to raise Rs 70 crs. The price band was Rs 212-215.
The discovered price was Rs 251 and the share hit the upper circuit of 5% thereafter to make a high of Rs 263.55. Coincidentally the discovered price was the same on the BSE and NSE. The highs and the close was also an identical Rs 263.55 made on both the exchanges. The low was Rs 250.10 on the BSE and Rs 250.50 on BSE. The closing price of Rs 263.55 was a gain of 22.58%.
The company had earlier allotted 18,46,715 equity shares to anchor investors. The public issue was subscribed an overall 43.29 times. QIB portion was subscribed 30.49 times, HNI a massive 113.88 times and Retail 16.06 times.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 251.00 | 263.55 | 250.10 | 263.55 | 48.55 | 22.58 | 259.61 | 288154 | 288154 | 100.00 |
| NSE | 251.00 | 263.55 | 250.50 | 263.55 | 48.55 | 22.58 | 256.18 | 1358653 | 1358653 | 100.00 |
| Total | 1646807 | 1646807 | 100.00 |
The traded volume on the BSE and NSE of the share which is in trade to trade segment for the first ten trading days was 16,46,807 equity shares. This was 26.25% of the IPO size of 61,55,813 shares and 38.22% of the non-anchor portion. Considering that this is a trade to trade counter and the issue size was small, the traded quantity was fairly decent. The weighted average of the days trade was Rs 259.61 on the BSE and Rs 256.18 on the NSE.
The share has had a decent listing and would remain in a range till it comes out of the trade to trade segment.
