The Hindu Business Line : PTC, Biocon make debut at huge premium

SHARES of Power Trading Corporation and Biocon, which had received good response from the investors in the primary market, today listed at a huge premium to their offer prices.

The overwhelming interest of investors in these two stocks was also seen from the huge volumes in these counters. In the case of PTC, shares twice the size of the issue were traded and for Biocon, almost 80 per cent of the issue size was traded.

In today's trading, PTC shares listed at Rs 32 on the NSE, touched a high of Rs 46.85, a low of Rs 31.10 and closed at Rs 44.25 — premium of 176 per cent to the issue price.

On the BSE, the stock closed at Rs 44.65. A total of 8.04 crore shares were traded on the NSE and 4.04 crore shares on the BSE that is a total of 12.08 crore shares were on the first day of listing.

The company had issued 5.85 crore shares, which means more than double the issue size was traded today. Of the total shares traded on the NSE, 1.17 crore shares (14.65 per cent) were presented for delivery. However, similar data on the BSE was not available.

Bicon shares listed at Rs 425 (also day's low) on the NSE, touched a high of Rs 506 and closed at Rs 483 — a premium of 53 per cent over the issue price.

On the BSE, the stock closed at Rs 484.35.

A total of 48.05 lakh shares were traded on the NSE and 32.55 lakh shares on the BSE. Combined volumes on the BSE and the NSE were 80.6 lakh shares, which mean 80 per cent of the shares issued through the IPO were traded.

Of the total shares traded, 13.61 lakh shares (28.33 per cent) were up for delivery on the NSE.

The public issue of PTC (priced at Rs 16 for Rs 10 share) was oversubscribed 45 times and Biocon (priced Rs 315 for Rs 5 share) was oversubscribed 33 times.

More Stories on : Stocks | Stock Markets | IPOs

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Road to polls is filled with utility vehicles

PTC, Biocon make debut at huge premium

Ministry examining issue raised by Nasscom on tax holiday

GM to make India low-cost supply base

Visible change in `complex'ion of ATMs

ICICI Bank issue oversubscribed four times on FII bids

CVC limits purview to bank AGM level