Syncom Healthcare Limited had a dream debut yesterday. The share was one which was virtually written off by all writers, analysts and what have you at the time of the pubic issue. However the share was well subscribed by retail and HNI’s. Everybody who subscribed has made an excellent return. The weighted average of trade yesterday was Rs 94.75, a gain of Rs 19.75 or over 26%. This is a huge gain and investors have benefited immensely.
Coming to the listing itself, the share listed at Rs 88 on the BSE and Rs 89.90 on the NSE respectively. The share rose all the way to Rs 107.25 on the BSE and Rs 107.20 respectively. There was selling pressure in the latter half of the day and the share made new lows falling below its open to Rs 85.80 and Rs 85.75 respectively.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 88.00 | 107.25 | 85.80 | 87.85 | 12.85 | 17.13 | 94.77 | 26101821 | 2135071 | 8.18 |
| NSE | 89.90 | 107.20 | 85.75 | 87.75 | 12.75 | 17.00 | 94.79 | 52499576 | 3805357 | 7.25 |
| Total | 78601397 | 5940428 | 7.56 |
The share registered huge volumes and a total of 7.86 cr shares were traded or 1.48 times the issue size of 75 lakh shares. The delivery volume was 59.40 lakh shares 7.56% of the traded value. If however the delivery percentage is based on the issue size the same would be 79.2 % indicating very high delivery. Yet another way of looking at it would be that four out of five shares in the IPO have changed hands. The stock closed at Rs 87.85 on the BSE and Rs 87.75 on the NSE, with a gain of 17%.
A very creditable performance for a debut day and though the stock appears to be under pressure, I believe it will continue to remain above issue price even today.
