S.P. Apparels Limited (SPA) which had tapped the capital markets with its fresh offer for Rs 215 crs and an offer for sale of 9 lac shares in a price band of Rs 258-268 was subscribed 2.66 times. Earlier the company had allotted 26,76,865 shares to seven anchor investors at the top end of the band at Rs 268. The issue was subscribed 2.21 times by QIB’s, 5.10 times by HNI’s and 1.90 times by retail investors. There were a total opf 97,255 applications which means the retail portion in terms of number of applications is subscribed 1.71 times.

The issue opened on Tuesday the 2 nd of August and closed on Thursday the 4 th of August.

The full list of subscription is given below: –

Dilip Buildcon Limited which is tapping the capital markets with its simultaneous offer of a fresh issue of Rs 430 crs and an offer for sale of 102.27 lac shares in a price band of Rs 210-219 received excellent response and was subscribed 20.95 times. The issue had opened on Monday the 1 st of August and closed on Wednesday the 3rd of August. The company had earlier allocated 89,58.592 shares at the top end of the price band of Rs214-219 at Rs 219 to 10 anchor investors comprising of 13 entities.

The QIB portion was subscribed 9.76 times, HNI a massive 79.64 times and retail 2.35 times. A total of 3,40,422 applications were received which saw the retail portion subscribed 2.12 times on basis of number of applications.

Shares of Advanced Enzyme Technologies Limited (AETL) listed on the bourses and made a great debut. The shares were issued in a price band of Rs 880-896 and there was a simultaneous offer of a fresh issue for Rs 50 crs and an offer for sale of 40,34,470 equity shares. The issue received excellent response and was oversubscribed 116.39 times with the QIB portion subscribed 94.53 times, HNI 394 times and retail portion 11.69 times. There were a total of 8.09 lakh applications received.

The funding rate for HNI’s was reduced significantly because of some demand supply mismatch and averaged about 5% against the normal 7%. The cost of finance per share was in the region of Rs 340 per share or in total Rs 1236 against the issue price of Rs 896.

The discovered price was Rs 1,210 on both exchanges and a total of 4.35 lakh shares were traded at this level. In the next half an hour the average of the half hours trade was about Rs 1,228 and the day’s high price was also recorded. The combined volume for this thirty minutes of trade was 29.17 lac shares. The price for the remainder time of the day was on a downward trend and the share saw selling pressure towards the last half hour of trading.

The total trading on the two exchanges was 61.53 lakh shares which is 1.34 times the IPO size and 1.91 times the non-anchor size. Delivery volume was a healthy 20 lakh shares which was 32.49% of the day’s volume and 43.53% of the IPO size. If one were to consider the non-anchor portion, the delivery percentage moves up to 62.05%. The weighted average of the day was Rs 1214.53 on the BSE and Rs 1215.61 on the NSE which is a handsome gain of Rs 318 or 31%. The unfortunate part is the fact that those leveraged investors who sold have lost money.

In terms of institutional activity Reliance mutual fund bought 2 lac shares at an average of Rs 1,229.43. Besides this there were no other trades reported.

A good issue with decent gains for lucky applicants but bad for leveraged investors who sold out. With the floating stock absorbed, tomorrow the stock could go either way.