Analysis and Insights into the world of IPOs and investing in India

Friday, April 8, 2011

Shilpi Cable crumbles after listing at a premium

Shilpi Cable Technologies, which listed on the exchanges today, had a highly volatile trading day. The share opened on the BSE at Rs.78.35, up Rs.10.35 over the issue price of Rs.69/- per share and even went on to touch Rs.84.65 as the Intra-day high.

However, it failed to maintain the gain on the issue price as it continued to crumble under pressure throughout the trading session. The share finally closed the listing day at a crashed price of Rs.47.60 on the BSE, i.e. at a discount of 31% on the issue price. The Total Traded Value on the BSE was 237.26 Crs. with 38498254 being the total traded quantity during the day

On the NSE, the share opened at Rs.78/-, went on to touch Rs.84.70 as the Intra-day high and closed the listing day at Rs.48.05, at a discount of about 30% on the issue price of Rs.69/- per share

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