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Sunday, June 11, 2006
Select stocks trade at premium over IPO price
Shares of select companies managed to trade at premium over IPO price even in the recent market meltdown.
The BSE Sensex declined sharply by 9.24%, to 9,810.46 on 09 June 2006, from its close of 10,809.35 on 26 May 2006.
Reliance Petroleum (RPL) finished at Rs 63.05 on 09 June 2006. The shares were issued at Rs 60 per share, in the public issue, which was oversubscribed 51 times. The stock listed with a hefty premium, at Rs 102 per share.
Tantia Constructions finished at Rs 122.90 on June 2006, as compared to an issue price of Rs 50 per share. The issue was oversubscribed by a whopping 77 times. It had debuted at Rs 180 per share.
B L Kashyap & Sons finished at Rs 892.05 per share, on June 2006, as compared to an issue price of Rs 685 per share. The issue was oversubscribed 14 times. The stock was listed at Rs 750 per share.
Pratibha Industries ended at Rs 175.65 on June 2006, as compared to an issue price of Rs 120 per share. The issue was oversubscribed by 21 times. The stock was listed at Rs 165 per share.
Sun TV finished at Rs 1,023.50, on 09 June 2006, compared to an issue price of Rs 875 per share. The issue was oversubscribed 47 times. The stock attracted a hefty premium of Rs 1,111 per share on listing.
Opto Circuits (India) finished at Rs 374.45 on 09 June 2006, as compared to an issue price of Rs 270 per share. The issue was oversubscribed a mere 5 times. The stock attracted a hefty premium of Rs 392 per share on listing.
Lokesh Machines finished at Rs 145.30 on 09 June 2006, premium to its issue price of Rs 140 per share. The issue was oversubscribed 19 times. The stock was listed at a hefty premium, at Rs 245 per share.
Plethico Pharmaceuticals ended at Rs 304.65 on 09 June 2006, as compared to an issue price of Rs 300 per share. The issue was oversubscribed 25 times. The stock was listed at Rs 408 per share.
Indo Tech Transformers finished at Rs 139.55 on 09 June 2006, as compared to issue price of Rs 130 per share. The issue was oversubscribed 39 times. The stock was listed at Rs 165 per share.
However, stocks of many recently listed companies fell below their IPO price in the recent market meltdown.
Shivalik Global was one of the biggest losers, finishing at 59.41% discount to Rs 24.35 on 09 June 2006, as compared to issue price of Rs 60 per share. The issue was oversubscribed mere 1 time.
Patel Engineering ruled at 29%, discount at Rs 311.30 on 09 June 2006, as compared to its issue price of Rs 440 per share. The issue was oversubscribed 29 times.
Uttam Sugar Mills finished at Rs 225.45 on 09 June 2006, as compared to an issue price of Rs 340 per share. The issue was oversubscribed 5 times.
DS Kulkarni Developers closed at discount to Rs 202.20, on 09 June 2006, from its issue price of Rs 275 per share. The issue was oversubscribed 30 times.
Emkay Shares ended at discount at Rs 69.10 on 09 June 2006, as compared to its issue price of Rs 120 per share. The issue was oversubscribed 8 times.
R Systems International finished at a huge discount, at Rs 140.40 on 09 June 2006, compared to its issue price of Rs 250 per share. The issue was oversubscribed a mere 3 times.
Godawari Power & Ispat slumped to finish at a discount, at Rs 54.80 on 09 June 2006, as compared to its issue price of Rs 81 per share. The issue was oversubscribed a mere 2 times.
Kewal Kiran Clothing slipped sharply from its issue price of Rs 260 per share to end at a discount, at Rs 187.40 on 09 June 2006. The issue was oversubscribed 12 times.
Solar Explosives closed at a discount, at Rs 137.95 on 09 June 2006, as compared to an issue price of Rs 190 per share. The issue was oversubscribed 14 times.
Nitco Tiles ended at a discount at Rs 133.20 on 09 June 2006, as compared to an issue price of Rs 168 per share. The issue was oversubscribed 5 times.
Mahindra & Mahindra Financial Services closed at a discount, at Rs 186.05 on 09 June 2006, as compared to an issue price of Rs 200 per share. The issue was oversubscribed 27 times.
J K Cements ended at a discount, at Rs 121.55, on 09 June 2006, as compared to an issue price of Rs 148 per share. The issue was oversubscribed a mere 2 times
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