Anchor lock-in ends for 2 debutants; stocks gain up to 55% from lows


New Delhi: Share prices of the latest debutants of Dalal Street whose anchor lock-in period ended today were trading higher, contrary to the market trend.

Shares of RateGain Travel Technologies and Shriram Properties have been in demand in the New Year.

RateGain Travel Technologies stock has zoomed 55 per cent from its recent low of Rs 312.35 touched on December 20. The scrip hit a new high of Rs 483.90 on Friday on BSE. The scrip rose 9 per cent on an intraday basis.

Shriram Properties, meanwhile, jumped about 20 per cent to Rs 94.95 on Friday from its low of Rs 79.55 hit on December 27. The scrip traded at Rs 106.35 on December 20, 2021.

In both these IPOs, a higher percentage was allotted to anchor investors, with their share at 13.2 per cent in RateGain and 13.4 per cent in Shriram Properties.

The IPO of RateGain Travel ran between December 7-9 and the company got listed on December 17 at a price of Rs 360, 15 per cent below its issue price of Rs 425.

RateGain Travel Technologies is one of the global leaders in distribution technology and India’s largest Software as a Service (SaaS) provider in the travel and hospitality sector. The response at the time of IPO was muted.

Gaurav Garg, Head of Research, CapitalVia Global Research said, “It is a fundamentally good company and has strong financial performance. It has an edge over its competitors through innovative artificial intelligence.” He recommends holding the stock.

Commenting on Shriram Properties, Garg said, “It has a strong financial position and good relationship with financial investors, but it has a disadvantage of being majorly in south India. We might see a correction in the stock.”

The IPO of Shriram Properties was open for subscription between December 8-10 and the company listed on December 20 at a price of Rs 90, 24 per cent below its issue price of Rs 118.

Shriram Properties is a subsidiary of the Shriram Group and one of South India’s top residential real estate developers. The company concentrates mostly on the mid-market and low-cost housing segments.

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