Aanjaneya Lifecare Limited which had tapped the capital markets with its IPO for 50 lakh shares in a price band of Rs 228-240 had a great debut. The share closed with gains of 33%. The issue was just about subscribed and had received very poor response from the institutional investors. The share opened at Rs 229.45 on the BSE and Rs 218 on the NSE. The high was Rs 324 on the BSE and NSE. The low was Rs 224 on the BSE and Rs 218 on the NSE. The share closed at Rs 311.25 with a gain of Rs 77.25 or 33.01% on the BSE. The close on the NSE was Rs 311.10, a gain of Rs 77.10 or 32.95%.

The trading volume was 526.40 lac shares or 10.52 times the IPO size. The weighted average of the day’s trade was Rs 279.41 on the BSE and Rs 278.75 on the NSE. The delivery volume was 43.49 lac shares which is 8.26% of the traded volume and a staggering 86.98% of the IPO size.

The price chart shows that the share was on an upward trend after 12 noon. Till that time the share was fairly steady trading in a range of Rs 245-260. There is an interesting trend which is developing these days. Issues without fundamentals or proper fundamentals are being brought to the market with the help of ‘friendly’ associates and intermediaries. These issues post listing are taken to ridiculous levels and from there the price of these shares falls dramatically. There are enough examples of such shares. The regulator and the stock exchanges need to relook at the price discovery on day one. There must be circuit filters introduced in such stocks on day one. Yet another way of checking manipulation and avoiding circular trading which is the cause of price manipulation, shares must be moved to the trade to trade segment. This will ensure that price movement is regulated.

All in all an issue which was not well received and had many issues remaining unanswered has returned huge returns to investors.

Shares of Aanjaneya Lifecare Limited listed at the BSE and NSE today morning. The opening price or listing price on the BSE was Rs 229.45 and Rs 218 on the NSE. The high was Rs 274.95 on the BSE and an identical Rs 274.95 on the NSE. The low was Rs 224 on the BSE and the open of Rs 218 on the NSE. After the first three hours of trade the share is trading at Rs 253 a gain of Rs 19 or 8.12% on the BSE and Rs 253.10 or a gain of Rs 19.10 or 8.16% on the NSE.

Aanjaneya Lifecare Limited had launched its issue for 50 lakh shares in a price band of Rs 228-240. The issue was open for subscription between the 9^th and 12^th of May. The issue was undersubscribed in the QIB category and overall subscription was 1.11 times. There has been full allotment in the retail category and near full allotment or 98.25% of the shares applied for in the HNI category. The price at which shares have been allotted is Rs 234.

The total traded volume is 179.78 lac shares which is 3.59 times the IPO size of 50 lakh shares. The weighted average of the first half of the day has seen the share at Rs 248.68 on the BSE and Rs 249.18 on the NSE. The share has performed creditably so far and it would be important to see where the share ends at the end of the day and what the delivery percentage of the same is. So far in the first half of the day the issue which was barely subscribed has managed the day and the is trading with gains of close to 8%.