R K Swamy shares had a lackluster debut on March 12, closing nearly 9% lower amidst market volatility. This performance fell short of analysts’ expectations, who had anticipated a flat debut despite strong subscription numbers during the IPO.
Opening 13.2% lower on the National Stock Exchange (NSE) at Rs 250 compared to the issue price of Rs 288, the stock struggled to regain momentum throughout the day. It fluctuated between an intraday high of Rs 284.90 and a low of Rs 243 before settling at Rs 262.60, reflecting an 8.82% decline in value. On the Bombay Stock Exchange (BSE), it closed at Rs 263.25, down 8.6%, with a trading volume of 6.91 lakh equity shares.
In contrast, Bharat Highways Infrastructure Investment Trust outperformed, closing the session with 3% gains despite the challenging market conditions.
The marketing services provider recently concluded its Rs 424-crore public issue, which witnessed robust demand, subscribing 25.94 times during March 4-6. The IPO comprised a fresh issuance of shares worth Rs 173 crore and an offer-for-sale (OFS) of 87 lakh shares worth Rs 250.56 crore by promoters and investors.
The price band for the IPO was set at Rs 270-288 per share.
On the other hand, Bharat Highways InvIT made a strong debut, opening higher at Rs 101 in its first trading session. The stock’s intraday movement saw a low of Rs 101 and a high of Rs 104.
At the close of the session, Bharat Highways InvIT settled at Rs 103.05, marking a 3.05 percent increase over the issue price of Rs 100 per unit.
The infrastructure investment trust, specializing in acquiring, managing, and investing in a portfolio of infrastructure assets in India, successfully raised Rs 2,500 crore through its initial public offering. The IPO solely consisted of a fresh issue by the trust, with a price band set at Rs 98-100 per unit.
During the subscription period from February 28 to March 1, the Bharat Highways InvIT IPO garnered a subscription of 8.01 times, indicating significant investor interest in the offering.
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