Jaypee Infratech is to list on Friday the 21st of May at a listing ceremony on the NSE. The company had launched its offer for sale and fresh offer between the 29th of April and the 4th of May in a price band of Rs 102-117. The issue was subscribed 1.24 times.
The issue was priced at Rs 102 and there was a 5% discount to retail investors. The issue had raised Rs 2262 crs at the issue price.
Mr. Manish Mandhana ringing the gong at the BSE
The issue received very good response and was subscribed over 6.32 times. The issue listed today on the BSE at Rs Rs 132.70 and at Rs 131 on the NSE. The highs were Rs 139.15 and Rs 139.50 respectively. The lows are the issue price of Rs 130 itself. Decent volumes have been seen on the exchanges in the first 75 minutes of trade and close to 1.20 cr shares have been traded. This corresponds to 1.45 times the IPO size of 83 lakh shares.
The weighted average of the share is around Rs 134.70 indicating a gain of Rs 3.70 or roughly 2.85% over the issue price of Rs 130. Considering the fact that the markets have opened weak and are trading more than 1% down since the beginning of the day, this should be taken as a positive start. The company is in the business of manufacturing textiles and is a readymade garment manufacturer as well.
| Exchange | Open | High | Low | Close | Net Change | % gain | Volume | Wt Avg |
| BSE | 132.70 | 139.15 | 130.00 | 134.15 | 4.15 | 3.19 | 4656224 | 134.80 |
| NSE | 131.00 | 139.50 | 130.00 | 134.15 | 4.15 | 3.19 | 7301902 | 134.45 |
| Total | 11958126 |
The delivery figures and how the share trades during the rest of the day would be discussed tomorrow. It would suffice to say that the first hour has been positive for Mandhana Industries Limited.
Tarapur Transformers Limited listed on the bourses yesterday. The company had issued through an IPO 85 lakh shares at Rs 75. The company is a subsidiary of another listed entity BILPOWER Limited. The share listed at its issue price of Rs 75 on the BSE and NSE. The share made a low of Rs 70.20 on the BSE and Rs 75.35 on the NSE respectively. Thereafter it was a one way move for the share all the way to the high of Rs 97.50 on the BSE and Rs 97.45 on the NSE. Then the share began to fall and it fell with purpose. Traded volumes were huge since morning and they just kept on increasing with every minute. The last tick at the end of the day said that the combined traded volume was 14.48 cr shares which is 17.04 times the IPO size of 85 lakh shares.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 75.00 | 97.50 | 54.10 | 56.90 | -18.10 | -24.13 | 77.87 | 63513025 | 3129279 | 4.93 |
| NSE | 75.00 | 97.45 | 54.30 | 57.40 | -17.60 | -23.47 | 77.73 | 81321869 | 5031863 | 6.19 |
| Total | 144834894 | 8161142 | 5.63 |
This volume is unheard of and I do not recall ever seeing such trading volumes. One must also recollect that there was no great response to the IPO and the share was subscribed through oversubscription in the HNI and retail categories. The first hour of trading saw a traded volume of 2.7 cr shares and this just kept on moving up throughout the day. Coming to deliveries the figures are even more interesting. The total deliveries are 81.61 lakh shares which is a mere 5.63 % of traded volume but hold your breath, a mind boggling, unprecedented 96.01% of the IPO size of 85 lakh shares. In my living memory, I am not aware of any other company having reached such high delivery figures on day one.
The delivery numbers become even more interesting considering the weighted average of the share which is Rs 77.87 on the BSE and Rs 77.73 on the NSE respectively. The weighted average indicates that people have been able to exit at above issue price and once new people (traders) were attracted into the share there has been dumping of the shares.
It indeed has been a complete disaster and I believe that even at this price there should be no reason to invest in the share. Readers would also be aware that your website chose not to cover this stock
