NDTV listed on BSE; opens at Rs 101

MUMBAI: New Delhi Television India Ltd (NDTV) joined the big league today as it was officially listed on the Bombay Stock Exchange at 9:55 am this morning. Its first strike at the bourses saw itself book Rs 101, reaching a high of Rs 125 and a low of Rs 90 within 10 minutes of the start of the session.

The face value of the share is Rs 4 and its offer price was between the price band of Rs 63 - 70. The NDTV initial public offering ( IPO) was 36 times oversubscribed. The total volume of shares allocated to the stock market is a total of 15.57 million.

The listing ceremony was held at the BSE International Convention Hall (Rotunda) with Sameer Manchanda, director finance NDTV sounding the gong at the auspicious moment for the company.Others present at the ceremony were Narayan Rao ( director NDTV), Deepti Neelakanthan ( COO JM Morgan Stanly), Dr Manoj Vaish (executive director and CEO BSE), Uday Kotak (chairman Kotak Mahindra Capital Company), J Niranjan (managing director ICICI Securities) and L S Nayak (CEO NDTV Media). 

The scrip opened at Rs 101 on BSE, hit a high of Rs 124.85 and a low of Rs 86.65. The listing was at a premium of 44.29 per cent to the final offer price of Rs 70. Volumes were high at 6,653,991. Total trades executed were 42,597. It ended the days session at Rs 98.70, a gain of 41 per cent to the offer price. At the high and low of the day, the scrip traded at a premium of 78.36 per centand 24.21 per cent respectively.On the NSE, the scrip opened at a price of Rs 105, hit a high of Rs 120 and a low of Rs 86.65, before closing at Rs 98.50. Volumes were extremely high at 12,782,835.

When questioned about the response the scrip got Manchanda gushed, "It was most important for us to get listed. Well, it is great that we have started off well, but market forces cannot be controlled, so that really is not that significant to us. What was important was for us to get listed and look at taking the company to a different level."

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