| Name | Date of listing | Issue Price | closing price | closing price | % gain loss | change over |
| 1st Apr | 26th Mar | over week | lssue price | |||
| ARSS Infrastructure | 3rd Mar | 450.00 | 993.00 | 932.55 | 6.48 | 120.67 |
| Texmo Pipes & Products | 10th Mar | 90.00 | 92.20 | 98.15 | -6.06 | 2.44 |
| Man Infraconstruction | 11th Mar | 252.00 | 380.85 | 383.00 | -0.56 | 51.13 |
| United Bank of India | 18th Mar | 66.00 | 71.55 | 67.25 | 6.39 | 8.41 |
| DQ Entertainment (Int) | 29th Mar | 80.00 | 110.90 | N A | 38.63 | 38.63 |
| IL&FS Transportation | 30th Mar | 258.00 | 278.10 | N A | 7.79 | 7.79 |
Performance of Newly Listed Shares 1st April
April 2nd, 2010
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Standard Chartered PLC to offer IDR’s: files DRHP
March 31st, 2010
1 Comment
Standard Chartered PLC is to offer 22 cr IDR’s or Indian Depository Receipts. The company filed its DRHP or draft red herring prospectus with SEBI today. The exchange ratio for each IDR is one is to one which means that one IDR is one share. The face value of each share is US dollar 0.50 or 50 cents.
This would probably be the first time that shares of a foreign company are being offered to Indian investors. The present issued capital of the company is 202,81,92,590 shares or 202.82 cr shares.
Some interesting facts about the issuer company to give a sense of the size of the bank. Its average market capitalisation for the year 2009 was US$ 37,924 million and the group profit after tax was US$ 3,477 million. Its earnings per share on a fully diluted basis is 165.3 cents per share. If one were to simply convert into rupees on a face value of Rs 22.5, its earnings are Rs 74.38. to make it further simpler if the face value was Rs 10, the earnings are Rs 33.06. For comparison purposes India’s largest PSU bank SBI has an EPS of about Rs 155 while private bank HDFC Bank has an EPS of about Rs 62 on nine months annualised basis.Standard Chartered is listed in the UK and Hong Kong.
IL&FS Transportation Delivery Day One
March 31st, 2010
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Strong opening but weak finish
IL&FS Transportation Network Limited listed on the BSE and NSE yesterday. The IPO raised Rs 700 crs through a combination of fresh issue and offer for sale at a discovered price of Rs 258. In total 271.31 lakh shares were issued and the IPO was very well received subscribed over 33 times.
The listing ceremony was held at the NSE and the stock listed at Rs 266.60 on the NSE and Rs 287 on the BSE. The highs made were Rs 299 and Rs 295 respectively. The open itself was the low on the NSE at Rs 266.60, while the low on BSE was made in the last half hour of trade at Rs 270.10.
| Exchange | Open | High | Low | Close | Net Change | % gain | Wt Avg | Volume | Delivery | Del % age |
| BSE | 287.00 | 295.00 | 270.10 | 273.75 | 15.75 | 6.10 | 280.77 | 16515653 | 2635612 | 15.96 |
| NSE | 266.60 | 299.00 | 266.60 | 274.65 | 16.65 | 6.45 | 280.92 | 26516883 | 7043037 | 26.56 |
| Total | 43032536 | 9678649 | 22.49 |
Trading was very brisk in the morning and in the first two and half hours as reported in the morning article 254.4 lakh shares were traded. In the next four hours of trading the volume increased by a mere 176 lakhs. The share was trading at Rs 275-276 at the time of the first article and slipped a few more rupees and closed at Rs 273.75 on the BSE and Rs 274.65 on the NSE respectively. The selling witnessed or the selling pressure is also borne out by the fact that the weighted average of the day was significantly higher at Rs 280.77 on the BSE and Rs 280.92 on the NSE respectively.
The delivery volume was 96.79 lakh shares or 22.49% of the traded volume of 430.32 lakh shares. If however one were to look at it from the IPO size of 271.31 lakh shares it was 35.68%. The delivery volume is not very high and considering the response that the share received during the IPO is just about average. There is however cause for concern that the pressure on the stock price is likely to continue today simply because the delivery volume was not too heavy as a percentage of IPO size.
The stock is likely to be under pressure today and fresh buying alone will help the price recover. The net change on the share was about Rs 16 and in percentage terms the same was 6.25%. The high of the day at Rs 299 meant that the share had a net change of Rs 41 and 15.89%.
In conclusion it feels that the share is likely to remain under pressure today.
