Vijaya Diagnostics Limited which had tapped the capital markets with its OFS for 3,56,88,064 shares in a price band of Rs 522-531 listed on the bourses and closed with gains of Rs 88.30 or 16.63%. The discovered price on BSE was Rs 542.30, at which price 56,796 shares were traded. On NSE, the discovered price was Rs 540, at which price 22,20,048 shares were traded.
The company had earlier completed allocation to anchor investors. The company allotted 1,06,61,418 shares to 29 anchor investors comprising of 41 entities at Rs 531. The issue had opened on Wednesday the 1st of September and closed on Friday the 3rd of September.
The highest allocation was made to Fidelity who was allotted 18,75,360 shares or 17.60% of the anchor book to three entities. This was followed by Goldman Sachs who was allotted 5.28% of the anchor book. This was followed by seven Indian mutual funds who were each allotted 4.40% or 4,68,832 shares. This effectively meant that the top nine investors were allotted 53.68% of the anchor book.
The QIB portion was subscribed 13.07 times, HNI portion was subscribed 1.32 times and Retail portion was subscribed 1.09 times. Employee portion was subscribed 0.98 times. The number of applications received were 3.91 lacs.
The high of the day on BSE was Rs 650.75, the low was Rs 533.65 and the close was Rs 619.30. The gain was Rs 88.30 or 16.63%. On NSE, the high of the day was Rs 648, low was Rs 532.50 and the close was Rs 620.10 a gain of Rs 89.10 or 16.78%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 542.30 | 650.75 | 533.65 | 619.30 | 88.30 | 16.63 | 594.72 | 1548904 | 877054 | 56.62 |
| NSE | 540.00 | 648.00 | 532.50 | 620.10 | 89.10 | 16.78 | 587.37 | 21724210 | 10949257 | 50.40 |
| Total | 23273114 | 11826311 | 50.82 |
The traded volume on the two exchanges combined was 232. 73 lac shares which was 0.65 times the IPO size of 356.88 lac shares and 0.93 times the non-anchor portion of 250.26 lac shares. Delivery volume was 118.26 lac shares which was 50.82% of the traded volume. It was 33.14% of the issue size and 47.25% of the non-anchor portion. The weighted average of the day’s trade was Rs 594.72 on BSE and Rs 587.37 on NSE.
In terms of institutional trade none were reported on either BSE or NSE.
Share had a poor start as the listing or discovered price was marginally 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 decent day clocking gain of between 16-17%. The cause for concern at the end of the day remains the poor delivery volumes and this could lead to pressure in the coming days.
The response even in subscription was lacklustre other than that from QIB’s. Considering that there was no selling pressure on day one from HNI’s or Retail investors the share has fared reasonably.
