Varinder Bansal, CNBC-TV18

Aishwarya Telecom has seen huge trading activity in the last two days. What makes this new listing buzz?

Four crore shares have been traded, which is 10 times the issue size. It has had a delivery of below 5% and 50% of the issue is held by 10 QIBs. Some shareholders who hold more than 1% are Ativir Venture Capital Trust, which holds 4.28%, Sourabh Venture Capital also holds the same amount of share as does SREI Venture Capital.

The company issued 40 lakh shares and the stock has gone up 140% from the issue price in the last three days. So investors should be very cautious while taking any position in this kind of a stock.

CARE had assigned IPO grade '2/5' to this issue