HP Adhesive, Supriya Lifescience stocks report correction on Monday as anchor lock-in ended today
The 30-day lock-in period of two newly listed companies – HP Adhesive and Supriya Lifescience ended on Monday, the former slipped by over 4 per cent and the latter by 1 per cent on the BSE.
The 30-day lock-in period of two newly listed companies – HP Adhesive and Supriya Lifescience ended on Monday, the former slipped by over 4 per cent and the latter by 1 per cent on the BSE. In comparison, the BSE Sensex closed over almost 3 per cent lower, amid weak global cues.
As many as three anchor investors - COEUS Global ops, 3 Sigma Global fund and AG Dynamic Funds Ltd had picked up stakes in HP Adhesive with 26.46, 46.7 and 26.84 per cent of holding among anchor investors. The shares were bought at the upper end of issue price by Rs 274 per share.
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HP Adhesives shares were listed at premium of over 16 per cent to Rs 319 a share on the exchanges. The stock so far has gained almost 20 per cent since listing and closed at Rs 401.3 apiece on the BSe.
In Supriya Lifescience, at least 6 anchor investors had bought shares in the company. Nippon Life (17.46 per cent), Dovetail India Fund (12.7 per cent) Cohesion MK Best Ideas (11.11 per cent), Malabar India Fund (9.52 per cent) Kuber India and Abakkus Fund each (9.21 per cent).
Supriya Lifescience shares were listed at over 55 per cent higher premium to Rs 425 per share as compared to Rs 274 per share of issue price on the exchanges.
The stock after bumper listing has corrected in the last couple days has surged by merely 20 per cent on the BSE.
Anchor investors are institutional investors who are allotted shares just before an IPO opens for subscription. All anchor investors are bound by a lock-in period since they get a confirmed allotment of a company's shares.
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