CMS Info Systems Limited had tapped the capital markets with its Offer for sale for Rs 1,100 crs in a price band of Rs 205-216. The issue had opened on Tuesday the 21st of December and closed on Thursday the 23rd of December. The issue was subscribed 1.97 times overall.

The QIB portion was subscribed 2.09 times, HNI portion was subscribed 1.52 times and Retail portion was subscribed 2.26 times. There were 5.08 lac applications and on basis of lots, the Retail portion was subscribed 1.97 times.

Earlier the company had allotted 1,52,77,777 equity shares to 10 anchor investors comprising of 12 entities at the top end of the band of Rs 216. Four anchor investors were allotted an identical 23,14,812 shares or 15.15% of the anchor book. They were ICICI Prudential, SBI Mutual Fund, Nomura and WF Asian Reconnaissance Fund. This meant that the top four funds were allotted 92,59,248 shares or 60.60% of the anchor book. Three Domestic mutual funds who applied through five schemes were allotted 40% of the anchor book.

Readers would recall that CMS had in its DRHP proposed to raise Rs 2,200 crs. It has then reduced the size and the price and raised Rs 1,100 crs. Looking at the response to the issue, one wonders what would have happened if the company had stuck o its original size and issue price.

Full details of the subscription are given below: –

Data Patterns (India) Limited who had tapped the capital markets with its fresh issue for Rs 240 crs and an offer for sale of 59,52,550 equity shares completed allocation to anchor investors. The issue which was open from Tuesday the 14th of December to Thursday the 16th of December had a price band of Rs 555-585. The company allotted 30,16,533 equity shares to 15 anchor investors comprising of 23 entities at Rs 585, which was the top end of the price band. Ashoka India and Axis Mutual fund were allotted an identical 3,42,400 shares or 11.35% of the anchor book. Eight anchor investors were allotted an identical 2,05,650 shares or 6.82% of the anchor allocation. Overall, the top ten anchor investors were given 77.26% of the anchor book.

The discovered price on BSE was Rs 864 at which price 1,50,659 shares were traded. The discovered price on NSE was Rs 856.05 at which price 14,28,369 shares were traded.

The overall issue was subscribed 120.61 times. QIB portion was subscribed 185.90 times, HNI portion was subscribed 259.83 times and Retail portion was subscribed 23.64 times. There were 28.02 lac applications and on basis of lots, Retail portion was subscribed 19.95 times.

The high of the day on BSE was Rs 864, the low was Rs 744.05 and the close was Rs 754.85. The gain was Rs 169.85 or 29.03%. On NSE, the high of the day was Rs 864, low was Rs 743.85 and the close was Rs 755 a gain of Rs 170 or 29.06%.

The traded volume on the two exchanges combined was 145.36 lac shares which was 1.41 times the IPO size of 102.74 lac shares and 2.00 times the non-anchor portion of 72.58 lac shares. Delivery volume was 49.91 lac shares which was 34.34 % of the traded volume. It was 48.59 % of the issue size and 68.78 % of the non-anchor portion. The weighted average of the day’s trade was Rs 806.67 on BSE and Rs 803.17 on NSE.

In terms of institutional or bulk trade, none were reported on either BSE or NSE. The traded volumes were decent and in comparison, the delivery volumes were poor. That probably explains the fact why the share was under pressure in the last 45 minutes of trade and lost significant ground. This was yet another share where the leveraged investor/HNI lost out as the cost of funding was far higher than the closing price. The average cost of funding was Rs 235 which meant the share should have traded at Rs 820. While it did open higher than this price, it failed to sustain there and continuously fell from these levels.

A decent listing on day one with appreciation for retail investors. Leveraged HNI has lost out on more issue and one wonders what drives their decision to borrow and invest in IPO’s.

Medplus Health Services Limited which is tapping the capital markets with its fresh issue for Rs 600 crs and an offer for sale of Rs 798.29 crs in a price band of Rs 780-796 completed allocation to anchor investors. The issue opens on Monday the 13th of December and closes on Wednesday the 15th of December.

The discovered price on BSE was Rs 1,015 at which price 2,35,329 shares were traded. The discovered price on NSE was Rs 1,040 at which price 39,65,005 shares were traded.

The company allotted 52,51,111 shares to 25 anchor investors comprising of 36 entities. The top allocation was made to four anchor investors equally who were allotted 3,46,086 shares or 6.59% each. These were Abu Dhabi, Blackrock, Fidelity and Nomura. This was followed by five domestic funds being allotted an equal 3,01,518 shares or 5.74% of the anchor book each. The top nine anchor investors were allotted 55.06% of the anchor book. Seven Domestic funds comprising of 18 entities were allotted 17,96,238 shares or 34.21% of the anchor book.

The overall issue was subscribed 53.67 times. QIB portion was subscribed 114.19 times, HNI portion was subscribed 87.08 times, Retail portion was subscribed 5.34 times and Employee portion was subscribed 3.12 times. There were 16.36 lac applications and on basis of lots, Retail portion was subscribed 4.81 times.

The high of the day on BSE was Rs 1,143.10, the low was Rs 1,015 and the close was Rs 1,120.85. The gain was Rs 324.85 or 40.81%. On NSE, the high of the day was Rs 1,143.90, low was Rs 1,040 and the close was Rs 1,121.15 a gain of Rs 325.15 or 40.85%.

The traded volume on the two exchanges combined was 196.06 lac shares which was 1.10 times the IPO size of 178.26 lac shares and 1.56 times the non-anchor portion of 125.75 lac shares. Delivery volume was 102.06 lac shares which was 52.05 % of the traded volume. It was 57.25 % of the issue size and 81.16 % of the non-anchor portion. The weighted average of the day’s trade was Rs 1081.95 on BSE and Rs 1087.40 on NSE.

In terms of institutional or bulk trade, none were reported on either BSE or NSE. The traded volumes were decent and so were the delivery volumes. Investors have chosen to cash out with decent gains of 40% on the counter. With no names available for buyers, one wonders who they are.

A decent listing on day one with appreciation for all investors. Retail participation was low and the stiff valuations with which the IPO came could have been a dampener.