SiS India tanks on Listing Day – Today, on August 10, 2017, Security and Intelligence Services (India) Ltd (SIS) has listed its shares on the stock market. The company had a share price of ₹ 815. In the initial period, the company’s shares did well. The shares of this company were listed on NSE at ₹ 879. On BSE, its shares are listed on ₹ 875. But after some time the prices started falling. The investors who had been allotted shares of SIS India had started selling shares on the listing day. Due to which the stock price went below the listing price in no time. At around 3:00 PM the price of this stock was ₹ 760. Today’s listing was very bad for SIS India. Some experts are quoting this stock at around ₹ 500.
SiS India Listing Info: Failure on day 01
Even in the gray market, the IPO did not make its mark well. Over the last few days, the premium of its IPO was going down. There was a time when the premium of SiS India in the gray market was around ₹ 100. But in a few days, its premium had dropped to around 45 rupees. The lower grey market premium of this IPO indicated that its listing would not be strong. From the beginning, it was known that prices of its shares could go down.
SiS Listing Day Figures
|Open||Rs. 879.80||Rs. 875|
|High||Rs. 879.80||Rs. 878|
|Low||Rs. 748.80||Rs. 749|
|Close||Rs. 757.05||Rs. 756.70|
Another IPO, which is the IPO of Cochin Shipyard, is also going to be listed tomorrow ie 11th August 2017 on the market. It will be interesting to see how it performs on a listing day. Investors have shown great interest in this IPO. Company’s fundamentals are also very sound. Retail investors are given a discount of ₹ 21 per share. So, overall it looks very good deal.
At present, the premium of Cochin Shipyard IPO in the gray market is around ₹ 150. Which indicates that this IPO can be listed between 550 rupees and 600 rupees tomorrow. Investors are disappointed with today’s listing, but they are confident that the tomorrow’s listing will be good. Thanks for visiting greymarket.co.in.