Up about 7%

Intrasoft Technologies Limited listed its shares today at a colourful listing ceremony at the BSE. The company had launched its IPO during the 23rd and 26th of March in a price band of Rs 137-145. The issue was for 37 lakh shares and raised Rs 53.65 crs at the top end of the price band. The issue was subscribed 18.95 times.

The share listed at the BSE at Rs 140 and very quickly made the low of the day at Rs 123.30. On the NSE the share listed at Rs 150 and came down to Rs 124 before recovering sharply on both the exchanges.

Exchange	Open	High	Low	Close	Net Change	% gain	Volume	Wt Avg
BSE	140.00	167.15	123.30	156.30	11.30	7.79	8953826	155.72
NSE	150.00	167.40	124.00	156.20	11.20	7.72	11475465	155.68
Total							20429291

The high made on BSE was Rs 167.15 and on the NSE was Rs 167.40. The trading volume has been very brisk and in the first two hours of trade the total traded volume is over 2.04 cr shares or 5.5 times the IPO size of 37 lakh shares. The share is holding well and is currently trading at Rs 154-157 and the weighted average of the day is also currently at the same price. The IPO size was a mere 37 lakh shares and therefore there are no major shareholders who could sell the shares post allotment.

It would be interesting to see how the day pans for Intrasoft Technologies. Incidentally the website of the company is 123greetings and the low that the share made on the BSE was Rs 123.30 or effectively the trade name was registered on day one.