Talwalkars Better Value Fitness Limited had a great start to trading today. The share was listed for trading at the BSE and NSE. The company had come out with its IPO for 60.5 lakh shares in a price band of Rs 123-128 during the 21st and 23rd of April 2010. The issue had received excellent response and was oversubscribed over 28 times.

The share listed at the BSE at Rs 138 and on the NSE at Rs 147.95 respectively. Within minutes of opening identical lows were made on both the exchanges at Rs 132. The share has been rising since then and making new highs. The high hit on both the exchanges was again identical with Rs 163.40 being the value. The share after hitting the high has been under some pressure as the gain at this price was Rs 35.40 or 27.66%. The share has reacted on profit booking but it is a long day and it would be interesting how the day pans out.

Trading volume has been huge and the fact that the issue size was small, a mere 60.5 lakh shares has helped matters. In the first hour of trading the volume has been 161.13 lakhs or 2.66 times the IPO size. It appears that by the day end we should not be surprised if the traded volume is in excess of 3.5 cr or around 4 cr shares traded.