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October 18, 2007

Dhanus Tech ends with 5.5% premium

This is what they call "Jinxed". First problem during IPO that they have to give option to the investors to withdraw their applications and now on the day of listing, the market fell like anything. Dhanus Technologies, a communication services company, has ended the day with 5.47% premium at Rs. 311.15 as against its offer price of Rs. 295 on the BSE. The share opened at Rs. 300.20 but did not sustain above issue price and slipped to touch a low of Rs. 251.6 on the back of negative sentiment in the markets (Sensex closed at 18715.82, down 336.04 points).

In the afternoon trade, the stock started trading above issue price as markets recovered more than 1200 points during the day. It touched a high of Rs. 350.

On the NSE, the share rose 3.83% to end at Rs. 306.30, with volumes of 43,70,615 shares. It has hit a high/low of Rs. 327.80 and Rs. 260, respectively. The turnover was at Rs. 134.10 crore.

The company had entered the capital market on September 10, 2007 with a public issue of 38,35,000 equity shares of Rs. 10 each. The issue was subscribed 14.47 times.

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