Talwalkars slips after admission of fresh shares

Talwalkars Better Value Fitness fell 4.57% to Rs 296.20 at 15:23 IST on BSE as fresh shares allotted by the company to institutional investors recently were admitted for trading on the bourses today, 25 June 2015.

Meanwhile, the BSE Sensex was up 171.76 points, or 0.62%, to 27,901.43.

On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 35,395 shares in the past one quarter.

The stock hit a high of Rs 311 and a low of Rs 293.20 so far during the day. The stock hit a record high of Rs 409.80 on 17 March 2015. The stock hit a 52-week low of Rs 173.15 on 11 July 2014.

The stock had underperformed the market over the past one month till 24 June 2015, falling 8% compared with 0.81% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 13.17% as against Sensex's 1.53% fall.

The small-cap company has an equity capital of Rs 26.18 crore. Face value per share is Rs 10.

Shares allotted by Talwalkars Better Value Fitness (Talwalkars) to institutional investors under qualified institutional placement (QIP) were admitted for trading on the bourses today, 25 June 2015. A total of 35.23 lakh shares of the company were admitted for trading. Talwalkars had priced the issue of shares to institutional investors at Rs 305 per share.

The QIP issue opened on 17 June 2015 and closed on 19 June 2015. The company raised Rs 107.48 crore from the issue.

On a consolidated basis, Talwalkars Better Value Fitness' net profit rose 20.08% to Rs 17.88 crore on 16.57% rise in net sales to Rs 76.84 crore in Q4 March 2015 over Q4 March 2014.

Talwalkars Better Value Fitness is India's largest fitness chain with over 150 gyms across 78 cities, offering a diverse set of services including gyms, spas, aerobics and health counseling under the brand 'Talwalkars' to an active member base of over 1,25,000 members.

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