The current crash in equity markets has pulled down 31 of the 43 scrips listed during January-May below their listing price, while 12 scrips are quoted below their offer price.
The aggregate market value of these 43 IPOs declined by 11 per cent (Rs 2,114 crore) to Rs 16,996 crore (Rs 169.96 billion) on Friday. These companies, which collectively raised Rs 13,599 crore (Rs 135.99 billion) through the issues, clocked a total value of Rs 16,996 crore (Rs 169.96 billion) on first day of listing.
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GVK Power and Infrastructures (11 per cent), Jagaran Prakashan (16 per cent), R Systems International (35 per cent), Sree Sakthi Papers (44 per cent), Dynemic Products (32 per cent), Powersoft Global (30 per cent), Nitin Spinners (25 per cent), Malu Paper Mills (36 per cent) and Visa Steel (20 per cent) are discounted more than 10 per cent from their offer price.
Bartonics (3 per cent), Emkay Share (2 per cent) and Kewal Kiran (1 per cent) are three others trading below their issue price.
Gitanajali Gems listed at a discount of Rs 167.15 to its issue price of Rs 195, hardly trading 0.44 per cent higher at Rs 195.85 on the BSE.
Celebrity Fashions (3 per cent), Adhunik Metaliks (5 per cent), Nitco Tiles (8 per cent), Solar Explosives (9 per cent) and Uttam Sugar (10 per cent) are few others trading just 3 per cent to 10 per cent premium to their issue price. All these stocks listed at 10 per cent to 40 per cent premium on the BSE.
Reliance Petroleum listed at Rs 85.45 on the Bombay Stock Exchange (BSE), currently quoted 15 per cent lower at Rs 72.75 against its listing price. The company had raised Rs 8,100 crore through IPO at Rs 60 a share.
Sun TV is now available at a discount of 19 per cent at Rs 1,192.34 against its listing price of Rs 1,466.05. The company issued equity shares at Rs 875 a share and had collected Rs 603 crore (Rs 6.03 billion).
Godwari Power is trading at 13 per cent discount at Rs 89.80 to its issue price of Rs 103.15, Lokesh Machine 23 per cent at Rs 175.30 (Rs 228.30), Solar Explosives 21 per cent to Rs 207.45 (Rs 263.10) and Sunil Hitech 20 per cent at Rs 125.05 (Rs 156.20).
