Sona BLW Precision Forgings Limited listed its shares and saw them gain 24.69% on listing day. The company saw its shares debut at Rs 302.45 on BSE and Rs 301 on NSE. They closed the day at Rs 362.85 and Rs 361.20 respectively.

The company which had tapped the capital markets with its fresh issue of Rs 300 crs and an offer for sale of Rs 5,250 crs, in a price band of Rs 286-291 was subscribed 2.28 times. The issue had opened on Monday the 14th of June and closed on Wednesday the 16th of June.

Earlier the company had allotted 8,58,24,742 equity shares to 56 anchor investors comprising of 83 investors at Rs 291. The highest allocation was made to Government of Singapore who was allotted 1,08,29,748 equity shares or 12.6% of the anchor book. Associate of the same investor, Monetary Authority of Singapore was allotted 29,67,486 shares or 3.5% of the anchor book. Three domestic funds were allotted a similar 7.1% of the anchor book each. They were SBI Mutual Fund, Aditya Birla Sunlife Mutual Fund and Axis Mutual Fund. Therefore, the top four anchor investors were allotted 37.5% of the anchor book.

The issue was subscribed 3.46 times by QIB, 0.39 times by HNI’s and 1.58 times by Retail investors. There were 4.46 lac application and on the basis of lots the retail portion was subscribed 1.17 times.

The opening price of Rs 302.45 on BSE, saw 2.31 lac shares being traded. Similarly, on NSE the opening price of Rs 301 saw 46.49 lac shares being traded. The high on BSE was Rs 362.85, low was Rs 295.15 and the close was Rs 362.85, a gain of Rs 71.85 or 24.69%.

The high on NSE was Rs 361.20, the low was Rs 295 and the close was Rs 361.20, a gain of Rs 70.20 or 24.12%.

The combined traded volume on the two exchanges was 468.44 lac shares which was 24% of the IPO size of 1929.30 lacs. Weighted average of the day’s trade was Rs 349.70 on BSE and Rs 331.63 on NSE. The traded volume was 44% of the non-anchor portion of 1071.05 lac shares. Delivery volume was 214.73 lac shares which was 45.84% of traded volume. It was 11.13% of the IPO size and 20.05% of the non-anchor IPO size. The share hit upper circuit even before 11 am in the morning, and even though the circuit opened for a flick of a second twice, share was locked at upper circuit. Volumes traded could have been higher but for the circuit.

There were no bulk deals reported on either of the exchanges on either the buy or sell side. The performance on listing day has been much better than expected and with there being no leveraged HNI’s, selling pressure on the counter was non-existent.

All in all, a positive and encouraging start to its listed journey on the bourses by Sona BLW Precision Forgings Limited.

Shyam Metalics and Energy Limited listed its shares and gained 22.83%. The company saw its shares debut at Rs 367 on BSE and Rs 380 on NSE. They closed the day at Rs 375.85 and Rs 376.15 respectively.

The company had tapped the capital markets with its fresh issue of Rs 657 crs and an offer for sale of Rs 252 crs and received excellent response by being subscribed 120.93 times. The price band of the issue which had opened on Monday the 14th of June and closed on Wednesday the 16th of June was Rs 303-306.

Earlier the company had allotted 88,21,764 equity shares to 21 anchor investors comprising of 22 entities. The highest allocation was made to Nippon India Mutual Fund of 8,49,645 equity shares or 9.63%. This was followed by Ashoka India Opportunities Fund who was allotted 8,16,975 shares or 9.26% of the anchor book. Shares to anchor investors were allotted at the top end of the price band at Rs 306.

The issue saw QIB’s subscribing to the issue 153.45 times, HNI portion was subscribed 339.98 times and the Retail portion was subscribed 11.64 times. The employee portion was subscribed 1.53 times. There were 21.13 lac applications, and on the basis of forms the retail portion was subscribed 9.15 times. The funding cost for leveraged investors is in the range of Rs 130-135.

The opening price of Rs 367 on BSE, saw 1.03 lac shares being traded. Similarly, on NSE the opening price of Rs 380 saw 20.95 lac shares being traded. The high on BSE was Rs 399.10, low was Rs 367 the opening price and the close was Rs 375.85, a gain of Rs 69.85 or 22.83%.

The high on NSE was Rs 399, the low was Rs 370 and the close was Rs 376.15, a gain of Rs 70.15 or 22.92%.

The combined traded volume on the two exchanges was 290.09 lac shares which was 0.98% of the IPO size of 297.05 lacs. Weighted average of the day’s trade was Rs 382.98 on BSE and Rs 383.08 on NSE. The traded volume was 1.39 times of the non-anchor portion of 208.84 lac shares. Delivery volume was 111.53 lac shares which was 38.45% of traded volume. It was 37.55% of the IPO size and 53.42% of the non-anchor IPO size. The share traded in a fairly small range considering it was the listing day.

There were no bulk deals reported on either of the exchanges on either the buy or sell side. The performance on listing day has been sedate and leveraged HNI’s have lost substantial money. Going forward, the company is likely to report results for the March21 quarter and also the April-June quarters which should help the stock price.

All in all, a quiet and sedate start to its listed journey on the bourses by Shyam Metalics and Energy Limited.

India Pesticides Limited which is tapping the capital markets with its fresh issue of Rs 100 crs and an offer for sale of Rs 700 crs completed allocation to anchor investors. The price band of the issue is Rs 290-296. The company allotted 81,08,107 equity shares at Rs 296 to 12 anchor investors comprising of 16 entities. The issue opens on Wednesday the 23rd of June and closes on Friday the 25th of June.

The highest allocation was made to SBI Mutual Fund who was allotted 21,95,900 shares or 27.08% of the anchor book. There were three entities in this allotment. This was followed by Nippon Mutual Fund who was allotted 13,54,058 equity shares or 16.67% of the anchor book. Here there were two entities. The third highest was to Abu Dhabi Investment Authority who was allotted 10,13,500 shares or 12.50% of the anchor book.

The top three anchor investors comprising of six entities were allotted 45,63,458 equity shares or 56.25% of the anchor book.

The full list of anchor allotment and allocation is given below: –