Debutants make a grand entry

Two new stocks got listed on the bourses today. Dr,Lal Path Labs and Alkem Labs and both had a spectacular opening.

Dr.Lal Path Labs which fixed its price at the upper range at Rs.550 got listed at Rs.717, a whopping 30% jump over issue price.

Alkem Labs too did very well. Its issue price was also fixed at the upper range of Rs.1050 and it got listed at Rs.1380, a jump of over 31%.

Both these IPOs had received an overwhelming response. Dr.Lal Path Labs was subscribed 33.41 times of which lion’s share came from QIB, subscribing 63.56 times and non-institutional investors at 61.82 times. Retail individual investors portion was subscribed 4.24 times.

Alkem Lab was subscribed 44.23 times with QIBs leading as usual at 57 times, HNIs at a jaw dropping 129 times and retail investors at 2.9 times.

Let’s now wait and watch how Narayana Hrudayalaya does; it will be the first new listing of 2016.