Sansera Engineering Limited which had tapped the capital markets with its offer for sale of 1,72,44,328 shares in a price band of Rs 734-744 was subscribed 11.47 times. Earlier the company had completed allocation to anchor investors. The company allotted 51,35,162 equity shares at the top end of the band to 21 anchor investors comprising 27 entities. The issue had opened on Tuesday the 14th of September and closed on Thursday the 16th of September.

The highest allocation was made to Government of Singapore who was allotted 5,10,760 shares or 9.5% of the anchor book. This was followed by Nomura who was allotted 4,43,560 shares or 8.64% of the anchor book. Three anchor investors were allotted an identical 4,30,120 equity shares or 8.38% of the anchor book. These were Abu Dhabi Investment Authority, Axis Mutual Fund and ICICI Prudential Mutual Fund.

The top 5 anchor investors were allotted 22,44,680 equity shares or 43.28% of the anchor book. 37 times.

The QIB portion was subscribed 26.47 times, HNI portion was subscribed 11.37 times, Retail portion was subscribed 3.15 times and Employee quota was subscribed 1.37 times. Overall, the issue was subscribed 11.47 times. There were 7.74 lac applications and on basis of lots the issue was subscribed 2.58 times.

Post the issue having opened, the government has notified a PLI scheme for the automobile industry, in which Sansera would qualify and stand to gain.

Full details of subscription category wise are given below: –

Ami Organics Limited which had tapped the capital markets with its fresh issue of Rs 200 crs and an OFS for 60,59,600 shares in a price band of Rs 603-610 listed on the bourses and closed with gains of Rs 324.55 or 53.20%. The discovered price on BSE was Rs 902, at which price 80,213 shares were traded. On NSE, the discovered price was Rs 910, at which price 15,80,125 shares were traded.

The company had earlier completed allocation to anchor investors. The company allotted 28,01,485 shares to 15 anchor investors comprising of 20 entities at Rs 610. The issue had opened on Wednesday the 1st of September and closed on Friday the 3rd of September.

The highest allocation was made to State Bank of India who was allotted 4,09,848 shares or 14.63% of the anchor book to two entities. This was followed by four anchor investors who were each allotted 2,45,904 shares or 8.78% of the anchor book. This was followed by SBI Life Insurance who was allotted 2,29,032 shares or 8.18% of the anchor book. This effectively meant that the top seven investors were allotted 64.38% of the anchor book.

The QIB portion was subscribed 86.02 times, HNI portion was subscribed 155.44 times and Retail portion was subscribed 13.42 times. The number of applications received were 15.52 lacs.

The high of the day on BSE was Rs 967.25, the low was Rs 841.20 and the close was Rs 934.55. The gain was Rs 324.55 or 53.20%. On NSE, the high of the day was Rs 966.70, low was Rs 841 and the close was Rs 935 a gain of Rs 325 or 53.28%.

The traded volume on the two exchanges combined was 131.61 lac shares which was 1.41 times the IPO size of 93.38 lac shares and 2.01 times the non-anchor portion of 63.36 lac shares. Delivery volume was 59.11 lac shares which was 44.91% of the traded volume. It was 63.30% of the issue size and 90.43% of the non-anchor portion. The weighted average of the day’s trade was Rs 912.99 on BSE and Rs 914.90 on NSE.

In terms of institutional trade none were reported on either BSE or NSE. However, Twenty First Century Shares and Securities Limited bought 5 lac shares at Rs 910.60 on BSE. The same connected entity under the name Vanaja Sundar bought 5 lac shares at Rs 910 on NSE. Another entity Vanaja Sundar Iyer bought 4 lac shares at Rs 909.97. This effectively meant that 14 lac shares were bought.

The share had a great start as the listing or discovered price was at almost 48% higher than the issue price. As the day progressed with gains in the broader market, this share too performed better and manged to have a great day clocking gain of between 53-54%. The cause for concern at the end of the day remains the high delivery volumes and this could lead to a short squeeze in the coming days. Whether the valuations at these elevated levels could be justified, are a major concern.

While speciality chemicals are doing well the market seems to be pressing the pedal in these issues, rightly or wrongly.