| Name | Date of listing | Issue Price | closing price | closing price | % gain loss | change over |
| 31st Dec | 24th Dec | over week | lssue price | |||
| R.P.P. Infra Projects | 6th Dec | 75.00 | 58.60 | 58.30 | 0.51 | -21.87 |
| MOIL | 15th Dec | 375.00 | 449.85 | 448.75 | 0.25 | 19.96 |
| SCI FPO | 15th Dec | 140.00 | 130.70 | 132.45 | -1.32 | -6.64 |
| Claris Lifesciences | 20th Dec | 228.00 | 213.75 | 218.65 | -2.24 | -6.25 |
| A2Z Maintenance & Engg | 23rd Dec | 400.00 | 323.65 | 333.00 | -2.81 | -19.09 |
| Punjab & Sind Bank | 30th Dec | 120.00 | 128.10 | N A | 6.75 | 6.75 |
Performance of Newly Listed Shares 31st Dec 2010
January 2nd, 2011
Comments Off on Performance of Newly Listed Shares 31st Dec 2010
Punjab & Sind Bank IPO Decent start but selling pressure reduces gains to just under 6%
December 31st, 2010
Comments Off on Punjab & Sind Bank IPO Decent start but selling pressure reduces gains to just under 6%
The last listing for the year 2010 was held at the BSE yesterday when shares of Punjab & Sind Bank were listed. This is also the last of the PSU banks to get listed and there is no unlisted PSU bank left.
The listing price on the BSE was Rs 146.10 while it was Rs 144 on the NSE. The high was Rs 149.70 on the BSE and Rs 146.70 on the NSE. The low was Rs 126.20 on the BSE and NSE and was made in the last few minutes of trade, indicating selling pressure.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 146.10 | 149.70 | 126.20 | 127.05 | 7.05 | 5.88 | 131.23 | 25432253 | 3907789 | 15.37 |
| NSE | 144.00 | 146.70 | 126.20 | 127.15 | 7.15 | 5.96 | 131.09 | 56675232 | 15375904 | 27.13 |
| Total | 82107485 | 19283693 | 23.49 |
The issue was for 4 cr shares and was subscribed over 50 times. HNI portion was subscribed over 85 times while the retail portion was subscribed close to 45 times. Allotment in the retail category was by lottery and all successful applicants received 50 shares each. In the case of leveraged HNI the cost of funding was Rs 34 which meant he was losing money first thing in the morning. The selling pressure seen in the last hour appears to be brought about by them and this could last for some more days.
The share saw volumes of 821.07 lacs which is 2.05 times the IPO size of 4 cr shares. The weighted average of the day was a shade over Rs 131 while the closing price was Rs 127.05 on the BSE and Rs 127.15 on the NSE. If one were to consider the delivery figures they were 192.83 lac shares which are 23.49% of the total traded volume and 48% of the IPO size.
In institutional activity Goldman Sachs bought 1436435 shares, while Hammon Asset Management bought 1200000 shares. Besides these two trades there were none that appeared either on the BSE or the NSE.
Retail investors who have sold at the weighted average have made a profit of Rs 11 which with the discount of Rs 6 to retail applicants means a total of 850 per successful applicant. The return is below expectation and has certainly dampened the spirit post Coal India.
As a matter of fact the case of leveraged HNI is even worse as this is the third successive issue from the PSU stable where he has lost money, the other two issues being SCI and MOIL.
The net gains in Punjab & Sind Bank were Rs 7 to 7.15 and the percentage gain was a mere 6%, certainly below expectations. The share could be under pressure going forward.
Punjab & Sind Bank Listing afternoon: Strong start but share under severe selling pressure
December 30th, 2010
Comments Off on Punjab & Sind Bank Listing afternoon: Strong start but share under severe selling pressure
Currently up around 8%
Shares of Punjab & Sind Bank listed at the BSE and NSE today. The opening price at the BSE where there was a listing ceremony held was Rs 146.10, while on the NSE it was Rs 144. The high was Rs 149.70 on the BSE and Rs 146.70 on the NSE. Immediately after listing the share came under severe pressure but recovered sharply to come back to Rs 134. From that level onwards the share is under pressure. The low however is what was made in the morning at Rs 127.60 on the BSE and Rs 127.10 on the NSE.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 146.10 | 149.70 | 127.60 | 129.40 | 9.40 | 7.83 | 21242271 | 131.96 |
| NSE | 144.00 | 146.70 | 127.10 | 129.40 | 9.40 | 7.83 | 45682860 | 131.89 |
| Total | 66925131 |
Readers would recall that the issue had received excellent support and was overall subscribed over 50 times. The traded volume has been good and at 2pm the total traded volume is 669.25 lacs which is 1.67 times the IPO size of 4 cr shares. The weighted average at this point of time is Rs 132 and the retail investors who have all been allotted 50 shares by way of lottery are making a profit of Rs 900 per application. The shares were allotted at the upper end of the price band of Rs 120 and there was a discount of 5% to retail which meant that there cost was Rs 114.
The returns are disappointing and with share under pressure it would be important to see where we close at the end of the day. The share is currently trading at Rs 129.40 and is up 7.83%.
