Shares of Syrma SGS Technology Limited listed on Friday at the bourses and had a great run. The discovered price on the BSE was Rs 262 while on NSE it was Rs 260. The company had tapped the capital markets with its fresh issue for Rs 766 crs and an offer for sale of 33,69,360 shares in a price band of Rs 209-220. The issue had opened on Friday the 12th of August and closed on Thursday the 18th of August.
The issue was very well received and this was the first issue after the lull of almost three months. The last issue from Aether Industries Limited had listed on 3rd of June. The issue was overall subscribed 32.61 times with QIB portion subscribed 87.56 times, HNI portion subscribed 17.5 times and Retail portion subscribed 5.53 times.
The company had allotted 1,14,56,261 equity shares to anchor investors at the top end of the price band of Rs 220.
After the price discovery on BSE of Rs 262, the scrip made the low of Rs 257, high of Rs 314.40 and closed at Rs 313.05. On NSE, the price discovered was Rs 260, after which the low of Rs 256.40 was made, followed by the high of Rs 312. The scrip closed at Rs 310.50.
TABLE TO BE ENCLOSED.
The combined volume on the two exchanges was 654.39 lacs. This was 1.71 times of the issue size of 381.78 lac shares. It was 2.45 times the non-anchor portion size of 267.31 lac shares. Delivery volume was 218.53 lac shares which was 33.40% of the traded volume. It was 57.23% of the issue size and 81.75% of the non-anchor portion. Weighted average of the days trade was Rs 294.27 on BSE and Rs 290.24 on NSE.
The scrip gained Rs 93.05 or 42.30% on BSE while it gained Rs 90.50 or 41.14% on NSE. What was surprising was the fact that there were no names in bulk trade on the buy side. Which such high deliveries, one would have expected some buyer’s names to emerge.
In conclusion, the share has had a great day and did well for itself on day one. Expect some more up move till deliveries are settled on Tuesday.