Sapphire Foods India IPO - Listing Day-1

Sapphire Foods India had a strong listing on 18th November and listed at a premium of 14.4%, but closed the day well below the listing price, although it was still above the IPO issue price. Sapphire Food had pulled back its listing date from 22-Nov to 18-Nov. While the stock did attempt a bounce during the day, it failed to hold on and kept falling from the listing price.

With overall subscription of 6.62X and stable trading interest in the GMP market, the listing was expected to be strong. However, the weak market sentiments and the deep cuts on Paytm had an impact on Sapphire Foods India too. Here is the Sapphire Foods India listing story on 18-Nov.

The Sapphire Foods India Ltd IPO price was fixed at the upper end of the band at Rs.1,180 considering the 6.61X subscription. The price band for the IPO was Rs.1,120 to Rs.1,180. On 18th Nov, the stock of Sapphire Foods India listed on the NSE at a price of Rs.1,350, a premium of 14.41% above the issue price of Rs.1,180. On the BSE also, the stock listed at Rs.1,311 a premium of 11.1% on the issue price.

On the NSE, Sapphire Foods India closed on 18-Nov at a price of Rs.1,227.70, a first day closing premium of just 4.04% on the issue price as the stock lost 9.06% from the listing price. On the BSE, the stock closed at Rs.1,216.05, a first day closing premium of just 3.06% on the issue price.

Check - Sapphire Foods India IPO subscription Day-3

On both the exchanges, the stock of Sapphire Foods listed well above the IPO issue price but closed Day-1 giving up most of its listing gains.

On Day-1 of listing, Sapphire Foods India touched a high of Rs.1,380.05 on the NSE and a low of Rs.1,160. The listing premium held through the day but contracted substantially by close. On Day-1 of listing, the Sapphire Foods India stock traded a total of 85.96 lakh shares on NSE amounting to value of Rs.1,094.29 crore. 

On 18-Nov, Sapphire Foods was the tenth most active share on NSE by traded value. On the BSE, Sapphire Foods India touched a high of Rs.1,383.60 and a low of Rs.1,160. On BSE, the stock traded a total of 5.31 lakh shares amounting to value of Rs.67.69 crore. It did not figure among the most liquid stocks on the BSE.

At the close of Day-1 of listing, Sapphire Foods India had a market capitalization of Rs.7,727.09 crore with free-float market cap of Rs.1,777.23 crore.

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