| Name | Date of listing | Issue Price | closing price | closing price | % gain loss | change over |
| 1st Apr | 25th Mar | over week | lssue price | |||
| Acropetal Technologies | 10th Mar | 90 | 58.4 | 70.1 | -16.69 | -35.11 |
| Sudar Garments | 11th Mar | 77.00 | 118.45 | 114.20 | 3.72 | 53.83 |
| Fineotex Chemicals | 11th Mar | 72.00 | 205.30 | 215.30 | -4.64 | 185.14 |
| Lovable Lingerie | 24th Mar | 205.00 | 246.05 | 250.75 | -1.87 | 20.02 |
| PTC India Financial | 30th Mar | 28.00 | 24.10 | N A | -13.93 | -13.93 |
Performance of Newly Listed Shares 1st April 2011
April 2nd, 2011
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PTC India Financial Services IPO Listing is a disaster
March 30th, 2011
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Share down 11%
Shares of PTC India Financial Services listed on the BSE and NSE today. The company had come out with its IPO for 15.67 cr shares which consisted of a fresh issue of 12.75 cr shares and an offer for sale of 2.92 cr shares. The price band was Rs 26 to Rs 28 and retail investors were given a discount of Rs 1 per share post allotment. The company had made an allotment of 2,35,05,000 shares to anchor investors at the top end of the price band of Rs 28.
The share listed at Rs 28 at the BSE and Rs 26.75 at the NSE respectively. The high was Rs 28 on the BSE and Rs 27 on the NSE. The low was Rs 23.50 on both the BSE and NSE. At around 11 am the share is trading at Rs 24.80 on the BSE and Rs 24.75 on the NSE which is down Rs 3.20 and Rs 3.25 respectively. This translates into a loss of 11.5% and is a poor performance for the share.
| Exchange | Open | High | Low | Close | Net Change | % gain/loss | Volume | Wt Avg |
| BSE | 28.00 | 28.00 | 23.50 | 24.80 | -3.20 | -11.43 | 12298708 | 25.02 |
| NSE | 26.75 | 27.00 | 23.50 | 24.75 | -3.25 | -11.61 | 18478354 | 24.94 |
| Total | 30777062 |
The share saw brisk trading and in the first 100 minutes of trade has already seen 307.77 lakh shares traded which is 19.64% of the shares issued through the IPO. The total number of shares issued was 1567 lacs. The weighted average of the day’s trade is 25.02 on the BSE and Rs 24.94 on the NSE. The share is trading at Rs 24.75 and 24.80 and is currently below the weighted average price. The silver lining currently is the fact that the volumes have been quite poor and there could be an upside in prices from these levels.
All in all, so far share has had an extremely poor performance.
Shilpi Cable Technologies IPO Subscribed
March 27th, 2011
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Shilpi Cable Technologies Limited which had tapped the capital markets with its IPO in a price band of Rs 65-69 was subscribed. The issue was open between the 22nd and 25th of March and was to raise Rs 5587.72 lacs. The issue was overall subscribed 3.48 times and received excellent response from the HNI’s and retail category of investors.
The details of the subscription level in various categories are given below: –
| Category | Shares Offered | Shares Subscribed | Times |
| QIB | 4298246 | 4449359 | 1.04 |
| NII | 1289474 | 8238515 | 6.39 |
| Retail | 3008772 | 17261421 | 5.74 |
| Overall | 8596492 | 29949295 | 3.48 |
The recent increase in number of issues which lack fundamentals is on the increase and is a cause of concern for the markets. These issues use “outside support” for the subscription and then manage to keep the issue afloat for a few days before the share price sinks trapping unaware investors. The latest such example is that of Acropetal Technologies Limited. This company came out with its public issue in a price band of Rs 88-90. The share made a high of Rs 156 in the week gone by and crashed to close at Rs 70.10. This is the beginning of the fall and the trapping of innocent investors.
It is time that SEBI and the stock exchanges took action against such companies. One simple way to control the rapid manipulation in such shares is to move them into the trade for trade segment. This would reduce the high volumes that are witnessed in such shares and then the poor delivery percentage. One hopes that in the interest of the capital markets immediate action is taken.
