Polycab India Limited shares listed on the bourses and had a stellar debut. Shares gained 21.75 on a day when the benchmark indices, BSESENSEX and NIFTY made new life time highs. The company had tapped the capital markets with its offer for sale of 1,75,82,000 equity shares and a fresh issue of Rs 400 crs in a price band of Rs 533-538 which received overwhelming support. The issue was subscribed over 52 times. Earlier it had allotted 74,54,119 equity shares at Rs 538 to 20 Anchor investors comprising of 25 entities.

The discovered price on both the exchanges was Rs 633. The high was Rs 667.55 on the BSE and Rs 667.80 on the NSE. The lows were Rs 633 on BSE and Rs 630 on NSE. The closing price was Rs 655 on BSE, a gain of Rs 117 or 21.75%. On the NSE the close was Rs 654.80, a gain of Rs 116.80 or 21.71%.

The traded volume was 252.28 lakh shares which was 100.84% or slightly more than the IPO size. Delivery volume was 99.94 lacs which was 39.62% of the traded volume and 39.95% of the IPO size. If one were to consider on the basis of non-anchor portion, the traded volume was 143.65%. Similarly, delivery was 56.91% of the non-anchor portion. The weighted average of the days trade was Rs 651.09 on the BSE and Rs 651.14 on the NSE. The heartening thing to note is that though the volumes were huge, the weighted average of the day was lower than the close. This indicates that the share was not under pressure at higher levels.

One other interesting takeaway is that with almost I crore share being delivered there are no names foe either buyers or sellers in bulk trade.

A good listing for Polycab and the price performance gets justified even from the leveraged HNI wo has made money even after paying about Rs 80 as cost of interest for his application.