The weak market conditions coupled with negative sentiment prevailing in the markets forced the new listing of Tree House Education and Accessories Limited to slip in the red on the listing day. The shares of Tree House, which listed on the exchanges yesterday on August 26, 2011, initially listed at a discount to the issue price at Rs.132.80 per share, the issue price being fixed at Rs.135 per share

The share went on to touch Rs.161.50 on the BSE at one point of the day, but with overall weakness in the markets soon took its toll and the share crashed to Rs.104.15 as the Intra-day low on the BSE, before concluding the listing day trade at Rs.116.55, at a discount of around 13.67% to the Issue Price. Although there was a special discount of Rs.6 on the Issue Price to the Retail category, Tree House would still show red against its name in investors' portfolio

Tree House Education and Accessories has 223 pre-schools under its brand name 'Tree House' across 33 cities in India. The company intends to utilise the IPO proceeds for expansion of pre-school business; acquisition of office space; procurement of exclusivity rights to provide educational services; construction of infrastructure for educational complexes in Rajasthan and Gujarat and repayment of loan

The Equity Shares of Tree House Education and Accessories Limited, an educational services provider will be listed and admitted on the exchanges with effect from Friday, August 26, 2011

Earlier, Tree House Education Limited has fixed the Issue Price of its recent IPO at the lower end of the Price Band of the IPO. The Issue Price is fixed at Rs.135/- per equity share, while the price band of the IPO was Rs.135/- to Rs.153/- per equity share. There will be a special discount of Rs.6/- per equity share for retail investors, who will consequently get the shares at Rs.129/- per share

Check back Indian IPO Blog for the listing day updates!

Tree House Education Limited has fixed the Issue Price of its recent IPO at the lower end of the Price Band of the IPO. The Issue Price is fixed at Rs.135/- per equity share, while the price band of the IPO was Rs.135/- to Rs.153/- per equity share

Tree House Education Limited intends to utilise the proceeds for expansion of pre-school business; acquisition of office space, procurement of exclusivity rights to provide educational services and construction of infrastructure for educational complexes in Rajasthan and Gujarat; and repayment of loan. Tree House Education Limited was open for subscription between August 10, 2011 and August 12, 2011 and was subscribed 1.85 times on an overall basis

As announced earlier, there will be a special discount of Rs.6/- per equity share for retail investors, who will consequently get the shares at Rs.129/- per share. Stay tuned to Indian IPO Blog for Tree House Education Limited IPO Allotment Status and Listing Day updates!

QIB: 1.02 times
Non-Institutional Investors: 1.68 times
Retail: 2.76 times
Overall: 1.85 times

QIB: 0.50 times
Non-Institutional Investors: 0.09 times
Retail: 1.12 times
Overall: 0.68 times