Tega Industries Limited which is tapping the capital markets with its offer for sale of 1,36,69,478 shares in a price band of Rs 443-453 completed allocation to anchor investors. The issue would garner 619 crs at the top end of the band. The issue opens on Wednesday the 1st of December and closes on Friday the 3rd of December.

The company allotted 41,00,842 shares to 17 anchor investors comprising of 25 entities. Domestic mutual funds were allotted 25,77,661 shares to 8 entities. This comprised 62.86% of the anchor allocation.

The top allocation was made equal to two anchors, namely SBI Mutual Fund and Ashoka Fund who were allotted 5,73,936 shares or 14% of the anchor allocation. This was followed by an identical 7.54% or 3,09,045 shares to 7 anchor investors. This effectively meant that the top nine anchor investors were allotted 80.78% of the anchor book.

Full details of the anchor allocation are given below: –

Go Fashion (India) Limited had tapped the capital markets with its fresh issue for Rs 125 crs and an offer for sale of 1,28,78,389 shares listed on the bourses. The discovered price on BSE was Rs 1,316 at which price 1,27,979 shares were traded. On NSE, the discovered price was 1,310 at which price 22,25,709 shares were traded. Approximately 23.52 lac shares were traded at the discovered price on the two exchanges combined.

The QIB portion was subscribed 100.73 times, the HNI portion was subscribed 262.08 times and the Retail portion was subscribed 49.39 times. There were 28.91 lac applications and on basis of lots, the retail portion was subscribed 41.35 times. Overall, the issue was subscribed 135.40 times. The issue for Rs 1,013 crs at the top end of the band raised a subscription of Rs 75,900 crs.

The company allotted 66,10,492 shares at the top end of the price of Rs 690 to anchor investors. These were allotted to 18 anchor investors comprising of 33 entities. The issue had opened on Wednesday the 17th of November and closed on Monday the 22nd of November. The price band was Rs 655-690.

The highest allocation was made to the Government of Singapore who was allotted 8,52,432 equity shares or 12.90% of the anchor allotment. Its associate, the Monetary Authority of Singapore was allotted 1,62,057 shares or 2.45% of the anchor book making a total of 10,14,489 shares or 15.35% of the anchor book. This was followed by Fidelity funds who were allotted 13.16% of the book to three entities. Three domestic funds, namely ICICI, HDFC, and SBI were allotted almost an identical 6.58% of the anchor book. This meant that the top 5 anchor investors were allotted 48.27% of the anchor book.

Domestic mutual funds were allotted 22,04,797 equity shares or 33.35% of the anchor book. This was to 7 mutual funds comprising of 18 schemes.

The high of the day on BSE was Rs 1,341, the low was Rs 1,144.15 and the close was Rs 1,252.60. The gain was Rs 562.60 or 81.54%. On NSE, the high of the day was Rs 1,339.90, the low was Rs 1,143.10 and the close was Rs 1,253.70 a gain of Rs 563.70 or 81.70%.

The traded volume on the two exchanges combined was 185.86 lac shares which was 1.27 times the IPO size of 146.90 lac shares and 2.30 times the non-anchor portion of 80.79 lac shares. Delivery volume was 72.23 lac shares which were 38.86% of the traded volume. It was 49.17% of the issue size and 89.40% of the non-anchor portion. The weighted average of the day’s trade was Rs 1,255.86 on BSE and Rs 1,255.43 on NSE.

In terms of institutional or bulk trade, two buy trades were reported on NSE. Both were from Nomura which bought 7.75 lac and 2.25 lac shares at Rs 1,277.97 per share. This means that 12.37% of the non-anchor and 13.84% of the actual delivery had a buyer disclosed.

The issue price of the company was at infinite multiples as the company has reported losses for the year ended March 21 and for the quarter ended June 21. One hopes that there is a turnaround when it reports the next set of numbers whether they are for September or December 2021. As for now, the listing has been excellent and all lucky shareholders who were allotted shares have made money including the leveraged HNI.

Star Health and Allied Insurance Company Limited which is tapping the capital markets with its fresh issue for Rs 2,000 crs and an offer for sale of 5,83,24,225 shares in a price band of Rs 870-900 completed allocation to anchor investors. The company allotted 3,57,45,901 equity shares to 49 entities comprising 62 entities at the top end of the price band of Rs 900.

The highest allocation was made to Baillie Gifford Pacific Fund who was allotted 27,76,208 shares or 7.77% of the anchor book. This was followed by the Monetary Authority of Singapore and the Government of Singapore who was allotted 6.89% and 0.87% of the anchor book, making a total of 27,76,224 shares or 7.76% of the anchor book. This was followed by the WF Asian Smaller Companies Fund who was allotted 27,30,992 shares or 7.64% of the anchor book. This was followed by Valiant who through three funds was allotted 24,82,928 shares or 6.95% of the anchor book.

The top four anchor investors were allotted 1,07,66,352 shares or 30.12% of the anchor book. The surprising thing was that there was just one domestic fund, Edelweiss Mutual Fund who invested 1,65,376 shares or 0.46% of the anchor book. Very clearly the non-participation by domestic mutual funds whatever be their reason is a disturbing thing as they are the entity that is witnessing the maximum fund flow currently.

The issue would garner Rs 7,249 crs at the top end of the band. The issue has opened on Tuesday the 30th of November and would close on Thursday the 2nd of December.

A full list of anchor investors with their allocation is given below: –