Two new listings today, with one getting listed at a much higher premium and the other, just about listing at a premium.
Ami Organics got listed on the BSE at Rs.902 v/s IPO price of Rs.610/share and is now trading at Rs.894 levels.
The IPO had evoked a great response, subscribing 64.54 times with HNIs taking the lion’s share at 154.81 times, QIBs at 86.64 times with retail investors at 13.36 times.
In our IPO Analysis we had concluded, “Healthy growth visibility coupled with attractive valuation make Ami Organics IPO promising over the short-to-medium term.”
The other IPO, Vijaya Diagnostics got listed at Rs.542.30 v/s IPO price of Rs.531 though it is now trading at a much higher price at Rs.577.
The response to the IPO was muted, subscribing 4.54 times with QIBs portion subscribing over 13 times.
In our IPO Analysis we had concluded, “Local player, with small topline, at stretched industry-wide valuation does not provide adequate risk-reward. Hence, the IPO can be given a miss.”