InvestorQ : How was the listing of Data Patterns IPO on 24th December?
vidhya Laxmi made post

How was the listing of Data Patterns IPO on 24th December?

Answer
image
sarah Leo answered.
5 months ago
Follow

Data Patterns (India) had a robust listing on Friday, 24th December as the stock listed at a surprisingly strong premium of 46.33% over the issue price. However, Data Patterns did face some selling pressure at higher levels and therefore could not hold on to the aggressive listing levels. To an extent, the weak sentiments in the market also resulted in tapering of gains in the latter half of the day. However, closing was still well above issue price.

It may be recollected that the IPO price of Data Patterns had been fixed at the upper end of the IPO price band at Rs.585 (the price band was Rs.555 to Rs.585). That is hardly surprising considering that the issue was subscribed 119.62 times and saw extremely strong contribution from the HNI as well as the QIB segment. Now for the actual listing story of Data Patterns on 24th December.

On the NSE, the stock of Data Patterns listed at a price of Rs.856.05, a premium of 46.33% over the issue price of Rs.585. Even on the BSE, the stock listed at a premium of 47.7% over the issue price. However, the stock closed on 24th December at a price of Rs.750.50 on the NSE. This represents a first day closing premium of 28.29% at close over the issue price of Rs.585, but the closing price was a good -12.33% below the listing price.

On 24th December, Data Patterns touched a high price of Rs.864 on the NSE and a low price of Rs.743.85. On the BSE, the stock touched a high of Rs.864 and a low of Rs.744.05. On both the stock exchanges, the stock opening price was close to the high of the day and the closing price was close to the low of the day. This indicates weakness at higher levels, although that is understandable after such a strong listing.

Let me now talk about volumes. On listing day, Data Patterns traded a total of 134.93 lakh shares on NSE with a traded value of Rs.1,083.68 crore. Data Patterns was the second most active stock on the NSE by traded value on listing day. On the BSE, the stock traded a total of 10.44 lakh shares with a traded value of Rs.84.23 crore. Even on the Bombay Stock Exchange, the stock was the second most active stock in terms of traded value.

10 Views