Pradip Overseas Limited (POL) listed today on the BSE and NSE. The company had come out with its IPO between 11th and 15th of March, in a price band of Rs 100-110. The issue was well received and was oversubscribed over 14 times. The issue was for 1.06 cr shares and the issue was priced at Rs 110.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 120.00 | 123.00 | 111.10 | 113.90 | 3.90 | 3.55 | 9126051 | 113.70 |
| NSE | 115.00 | 122.70 | 110.00 | 113.90 | 3.90 | 3.55 | 11051205 | 113.58 |
| Total | 20177256 |
The share listed on the BSE at Rs 120 and on the NSE at 115. The highs were Rs 123 and Rs 122.70 respectively. The lows were Rs 111.10 and Rs 110 on the BSE and NSE. The traded volume was a healthy 201.78 lakhs or roughly 1.9 times the IPO size of 1.06 cr shares.
The share seems to be under pressure and probably the reason for that is because the grey market premiums were quite high and seem to have reduced post listing. More on the stock at the end of the day looking at the traded volumes and delivery volumes.
