Four mainboard companies that together raised Rs 1,776 crore between September 25 and 29 began trading on Monday. Orient Cables (India) opened at Rs 450 on the NSE against an issue price of Rs 272, a 65.44% premium. German Green Steel & Power opened at Rs 142 against Rs 139. Runwal Enterprises opened at its Rs 305 issue price on the NSE and Rs 306 on the BSE. AceVector, Snapdeal's parent, opened at Rs 28.32 against Rs 32, an 11.5% discount.
Why it matters for listed companies
The openings tracked demand in the books: Orient Cables' Rs 552 crore issue was subscribed 97.25 times and German Green Steel's Rs 304 crore issue 30.5 times, while Runwal's Rs 500 crore fresh issue drew 2.65 times and AceVector's Rs 420 crore issue 5 times. For the primary market the day is a data point on pricing: the cables maker left room for investors, while the e-commerce and real-estate issues did not. Several SME issues close this week into the same market, with the Nifty under pressure from crude and bond yields.
These figures are measured, not attributed. Prices and rates move for many reasons at once; they show
what happened after this story, not that the story caused it. Nothing here is a recommendation to buy, sell or hold.
A company's first result after listing is the first set of numbers that was not in its prospectus, and for these four it produced moves of 3% to 20% in a day in opposite directions. The results are for April-June, a…
The three debuts tracked their subscription levels: the issue with bids for more than 600 times the shares on offer opened far above its price, while the two with lighter books opened almost flat. That spread is the…
Capital Goods · Services · Fast Moving Consumer GoodsHDFC Sky ↗
New coal-fired capacity is being ordered again by public utilities, and the equipment and construction work goes to a short list of Indian suppliers of boilers and turbines, L&T and BHEL among them. For L&T the order…
After a week with one small new issue, October's fundraising depends almost entirely on Jio Platforms, whose reported size is about twenty times that of Paras Healthcare. In Tonbo Imaging's case all proceeds go to…
Healthcare · Capital Goods · TelecommunicationUpstox ↗