R.P.P. Infra Projects Limited made its debut and listed at a ceremony held at the BSE. The listing price was the issue price of Rs 75 on the BSE and NSE. The high was Rs 80.40 on the BSE and an almost similar Rs 80.50 on the NSE. The high was made in the first few minutes of trade itself and thereafter the share lost ground virtually throughout the day. The low of the day was Rs 67.35 on the BSE and Rs 67.20 on the NSE. The lows were made in the last 30 minutes of trade and are indicative of the kind of pressure on the stock.

The trading volumes were high and the total trading volume was 502.84 lakh. The IPO size was 65 lakh shares and the traded volume was 7.73 times the same. Delivery volume was 51.33 lakhs which was 10.21% of the traded volume and 79% of the IPO size. The weighted average of the day was 73.52 on the BSE and Rs 73.53 while the weighted close was Rs 68.95 on the BSE and an almost similar 68.90 on the NSE. The difference between the weighted average and the close indicates the selling pressure witnessed in the share.

From the price chart above, it is very clear that the stock went down with volumes post 3 pm and the stock just failed to recover thereafter. The fundamentals of the stock are weak and it was recommended by this website to avoid the issue on terms of fundamentals and corporate governance issues. The fact that the issue was expensive and did not warrant subscription was also highlighted in the article. Even though the issue has listed and is now available at the lower end of the price band, it continues to be expensive and even punting in the share is likely to be dangerous to your portfolio. Avoid any investment, as there is more downside yet to come.

After first ninety minutes of trade share down 3.60%

R.P.P. Infra Projects listed at a colourful ceremony at the BSE and the opening price was Rs 75 which was the issue price. The NSE also saw a similar opening price of Rs 75. The lows on the two exchanges were Rs 68 on the BSE and Rs 69.75 on the NSE. The high was Rs 80.40 on the BSE and Rs 80.50 on the NSE. The highs were made within the first ten minutes of trade itself and thereafter the share has been steadily falling.

Trading volumes have been brisk and in the first ninety minutes of trade 260.73 lakh shares have been traded. This is four times the total IPO size of 65 lakh shares.

The weighted average at 10.45 is still above par and is currently at Rs 75.78 at the BSE and Rs 75.61 at the NSE. The issue was subscribed an overall 2.97 times with the QIB portion subscribed a mere 0.16 times. It would be interesting to see where the share closes at the end of the day today.