Data Patterns (India) IPO lists at 46.33% Premium; Edges Lower

Data Patterns (India) had a strong listing on 24th December and listed at a premium of 46.33%. However, the stock could not hold on to the aggressive listing due to the weak sentiments in the market and gave up gains. The stock still closed well above the listing price at the close of trade on the first day of trading.

With 119.62 times subscription and robust trading in the grey market, Data Patterns (India) was always expected to list at a premium to the issue price. However, actual listing was much better  than expected by the markets. Here is the Data Patterns (India) listing story on 24th Dec.

The IPO price was fixed at the upper end of the band at Rs.585 which was not surprising considering that the issue was subscribed 119.62 times overall with strong contribution from the HNI and the QIB segment. 

The price band for Data Patterns IPO was Rs.555 to Rs.585. On 24th Dec, the stock of Data Patterns (India) listed on the NSE at a price of Rs.856.05, a premium of 46.33% on the issue price of Rs.585. On the BSE also, the stock listed at Rs.864 a premium of 47.69% on the issue price.

On the NSE, Data Patterns (India) closed on 24th Dec with a late correction at a price level of Rs.750.50, a first day closing premium of 28.29% on the issue price of Rs.585. The closing price was however -12.33% below the listing price due to the late correction in the stock. 

On the BSE, the stock closed at Rs.754.85, a first day closing premium of 29.03% on the issue price, but the stock closed -12.63% below the listing price. On both the exchanges, the stock listed at a healthy premium to the issue price, and during the day the stock gave up a good chunk of its early listing gains.

On Day-1 of listing, Data Patterns (India) touched a high of Rs.864 on the NSE and a low of Rs.743.85. On Day-1 of listing, the Data Patterns (India) stock traded a total of 134.93 lakh shares on NSE amounting to value of Rs.1,083.68 crore.  On 24-Dec, Data Patterns (India) was the second most active stock on the NSE by traded value.

On the BSE, Data Patterns (India) touched a high of Rs.864 and a low of Rs.744.05. On BSE, the stock traded a total of 10.44 lakh shares amounting to value of Rs.84.23 crore. Data Patterns (India) was the second most active stock on the BSE in terms of traded value.

At the close of Day-1 of listing, Data Patterns (India) had a market capitalization of Rs.3,916.66 crore with free-float market cap of Rs.548.33 crore.

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