Shares of Sandhar Technologies Limited listed on the bourses. The company had tapped the capital markets with its simultaneous fresh issue for Rs 300 crs and an offer for sale of 64 lakh shares in a price band of Rs 327-332. The company allotted 46,30,842 equity shares to 15 anchor investors comprising of 21 entities. The highest allocation made was of 3,31,290 equity shares or 7.15% of the anchor portion. This was made to seven anchor investors.

The QIB portion was subscribed 14.49 times. HNI portion was subscribed 6.39 times and retail portion was subscribed 1.42 times making the overall subscription 6.19 times.

The discovered price was Rs 345 on the BSE and Rs 346.10 on the NSE. The high of the day was Rs 351.45 on the BSE and Rs 351.75 on the NSE. The low of the day which was made towards the end of the day was Rs 318.55 on the BSE and Rs 318.25 on the NSE. The close was Rs 322.55 on the BSE, a loss of Rs 9.45 or 2.85% on the BSE. The same on NSE was Rs 322.15, a loss of Rs 9.85 or 2.97%.

The traded volume on the two exchanges combined was 111.51 lakh shares which was 72.24% of the IPO size of 154.36 lakh shares. Delivery volume was 42.86 lakh shares which was 38.44% of traded volume and 27.77% of the IPO size. If one were to consider the non-anchor portion, the traded volume was 103.20% of the IPO size and delivery was 39.67% of the same. Weighted average was Rs 338.62 on the BSE and Rs 338.97 on the NSE, which was way above the closing price. Very clearly the share was under pressure in the last hour of trading.

Decent debut as far as listing or price discovery is concerned but share slipped thereafter. Its early days and looking at the potential, the share should do better in the coming days.