| Name | Date of listing | Issue Price | closing price | closing price | % gain loss | change over |
| 28th October | 21st October | over week | lssue price | |||
| Dilip Buildcon Limited | 11th August | 219.00 | 238.40 | 225.90 | 5.71 | 8.86 |
| S P Apparels Limited | 12th August | 268.00 | 349.40 | 338.20 | 4.18 | 30.37 |
| RBL Bank Limited | 31st August | 225.00 | 374.55 | 328.10 | 20.64 | 66.47 |
| L&T Technology Services Limited | 23rd September | 860.00 | 826.40 | 850.30 | -2.78 | -3.91 |
| GNA Axles Limited | 26th September | 207.00 | 245.30 | 252.25 | -3.36 | 18.50 |
| ICICI Prudential Life Insurance Co Ltd | 29th September | 334.00 | 308.60 | 326.30 | -5.30 | -7.60 |
| HPL Electric & Power Limited | 4th October | 202.00 | 175.50 | 184.65 | -4.53 | -13.12 |
| Endurance Technologies Limited | 19th October | 472.00 | 623.30 | 623.40 | -0.02 | 32.06 |
Performance of Newly Listed Shares as on 28th October 2016
November 1st, 2016
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Varun Beverages Limited – Issue Subscribed
November 1st, 2016
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The simultaneous offer from Varun Beverages Limited was subscribed. The company had tapped the capital markets with its fresh issue of 1.5 cr shares and an offer for sale of 1 cr shares in a price band of Rs 440-445. The issue was subscribed 1.86 times with 3 out of four categories remaining undersubscribed. Only the QIB portion was subscribed while HNI, Retail and Employee remained undersubscribed. If one tries to recall IPO’s this year there is hardly any other IPO which has had such a poor showing.
Some market players are comparing this issue with Manpasand Beverages Limited which had tapped the capital markets in July 2015. The issue was subscribed 1.40 times with QIB portion subscribed 1.98 times, HNI 0.38 and retail 1.16 times. This was an issue where reservation for QIB was 75, 15 for HNI and 10 for Retail. The share has not looked back thereafter.
The major difference in the two issues are primarily the fact that Manpasand has a brand “Mango Sip” while Varun is a bottler for Pepsico. Secondly while Manpasand sells fruit juice. India loves mango and Manpasand is a mango juice company having its own brand, manufacturing and distributing setup. I believe comparing the two companies is just not worth the exercise.
The full list of subscription category wise s appended below:-
| Category | Bucket Size | Shares Applied for | Times oversubscribed |
| QIB | 4900000 | 24184941 | 4.94 |
| HNI | 3675000 | 1533840 | 0.42 |
| Retail | 8575000 | 7020486 | 0.82 |
| Employee | 500000 | 26565 | 0.05 |
| Total | 17650000 | 32765832 | 1.86 |
Very clearly the subscription to this issue was disappointing and coming at a time when activity in the primary market is virtually at its peak does not augur well. One hopes that merchant bankers realise that HNI’s and Retail comprise half the subscription in an issue and their opinion matters.
Happy Diwali.
PNB Housing Finance Limited – Issue Subscribed
October 28th, 2016
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Shares of PNB Housing Finance Limited which closed on Thursday received excellent response. The issue was oversubscribed 29.55 times. The company had tapped the capital markets with a fresh issue to raise Rs 3,000 crs in a price band of Rs 750-775. The anchor allocation had received excellent response and the company allotted 115.37 lakh shares to 45 anchor investors comprising of 71 entities. The highest allocation was to Government of Singapore of 5.40% of the anchor book.
The detailed subscription under various categories is given below: –
| Category | Bucket Size | Shares Applied for | Times oversubscribed |
| QIB | 7952500 | 296868008 | 37.33 |
| HNI | 5962500 | 513785156 | 86.17 |
| Retail | 13912500 | 18849995 | 1.35 |
| Employee | 250000 | 114665 | 0.46 |
| Total | 28077500 | 829617824 | 29.55 |
