Shriram Properties Limited who had tapped the capital markets with its fresh issue for Rs 250 crs and an offer for sale of Rs 350 crs, was subscribed 4.81 times. The issue has opened on Wednesday the 8th of December and closes on Friday the 10th of December. The price band is Rs 113-118. The discovered price on BSE was Rs 94 at which price 1,03,519 shares were traded. It was Rs 90 on NSE at which price 48,15,373 shares were traded.
Earlier the company had completed allocation to anchor investors. The company allotted 2,27,66,949 shares at Rs 118 which is the top end of the band to 10 anchor investors comprising of 30 entities. The highest allocation was made to Nomura who was allotted, 42,37,375 equity shares or 18.61% of the anchor book. This was followed by SBI Life Insurance who was allotted 37,29,000 shares or 16.38% of the anchor book. Nippon Mutual fund was allotted 33,89,875 equity shares or 14.89% of the anchor book. Sundaram Mutual Fund was allotted 11.14% of the anchor book.
Domestic mutual funds were allotted 84,74,625 equity shares or 37.22% of the anchor book. The top 4 anchors were allotted 61.02% of the anchor book.
The QIB portion was subscribed 1.93 times, HNI portion was subscribed 5.04 times, Retail portion was subscribed 13.27 times and Employee portion was subscribed 1.31 times. There were 4.56 lac applications and on basis of lots, Retail portion was subscribed 11.28 times.
The high of the day on BSE was Rs 106.35, the low was Rs 91.75 and the close was Rs 99.40. The loss was Rs 18.60 or 15.76%. On NSE, the high of the day was Rs 106.40, low was Rs 90 and the close was Rs 99.60 a loss of Rs 18.40 or 15.59%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 94.00 | 106.35 | 91.75 | 99.40 | -18.60 | -15.76 | 100.35 | 2342848 | 469361 | 20.03 |
| NSE | 90.00 | 106.40 | 90.00 | 99.60 | -18.40 | -15.59 | 98.90 | 30022513 | 10772745 | 35.88 |
| Total | 32365361 | 11242106 | 34.73 |
The traded volume on the two exchanges combined was 323.65 lac shares which was 0.64 times the IPO size of 508.73 lac shares and 1.15 times the non-anchor portion of 281.06 lac shares. Delivery volume was 112.42 lac shares which was 34.73 % of the traded volume. It was 22.10 % of the issue size and 40 % of the non-anchor portion. The weighted average of the day’s trade was Rs 100.35 on BSE and Rs 98.90 on NSE.
In terms of institutional or bulk trade, one was reported on NSE. Nomura bought 20 lac shares at an average price of Rs 95.53. The traded and delivery volumes were lower than expected. The share was under pressure as can be seen from the lower prices at which it traded. The share could be under further pressure going forward.
In conclusion, a poor listing and would reflect on the group as well.
