KFIN Technologies Ltd IPO lists 0.27% higher but closes lower

KFIN Technologies IPO had a tepid listing on 29th December 2022, listing at a small premium of 0.27%, and closing the day below the listing price. While the stock did show some bouts of volatility during the day, it closed very near to the IPO price and the opening price. With subscription of 2.59X overall and QIB subscription at 4.17X, the listing was expected to be moderate, at the very best. Here is the KFIN Technologies Ltd listing story on 29th December 2022.

The IPO price was fixed at the upper end of the band at Rs.366 which is rather ambitious considering the rather moderate 2.59X overall subscription. The price band for the IPO was Rs.347 to Rs.366. On 29th December 2022, the stock of KFIN Technologies Ltd listed on the NSE at a price of Rs.367, a small premium of 0.27% over the issue price of Rs.366. On the BSE also, the stock listed at Rs.369 a premium of 0.82% over the issue price.

On the NSE, KFIN Technologies Ltd closed on 29th December 2022 at a price of Rs.364.40. That is a first day closing discount of -0.44% on the issue price of Rs366 and a discount of -0.71% on the listing price of Rs367. On the BSE, the stock closed at Rs.364. That represents a first day closing discount of -0.55% below the issue price and a discount of -1.36% below the listing price on the stock exchange. On both the exchanges, the stock definitely listed marginally above the IPO issue price but closed Day-1 below the listing price. Clearly, the tepid subscription took its toll on the first day of listing as there was a rush to exit the stock after the weak opening.

On Day-1 of listing, KFIN Technologies Ltd touched a high of Rs.373 on the NSE and a low of Rs.351. The discount sustained through the day. In fact, if you look at the range of prices, the stock never crossed the issue price through the day and it closed very near to the issue and opening price of the day. On Day-1 of listing, the KFIN Technologies Ltd stock traded a total of 75.26 lakh shares on NSE amounting to value of Rs.273.88 crore on the first day. The order book during the day showed a lot of selling pressure with the sell orders far exceeding the buy orders at any point of time.

On Day-1 of listing, KFIN Technologies Ltd touched a high of Rs.372.40 on the BSE and a low of Rs.351.10. The discount sustained through the day. In fact, if you look at the range of prices, the stock never crossed the issue price through the day and it closed very near to the issue and opening price of the day. On Day-1 of listing, the KFIN Technologies Ltd stock traded a total of 4.48 lakh shares on BSE amounting to value of Rs.16.30 crore on the first day. The order book during the day showed a lot of selling pressure with the sell orders far exceeding the buy orders at any point of time.

At the close of Day-1 of listing, KFIN Technologies Ltd had a market capitalization of Rs.6,099.51 crore with free-float market cap of Rs.792.94 crore.