Chalet Hotels has a better listing

about 5 years ago
No Image

Chalet Hotels made its debut on the bourses today and unlike the tepid listing of Xelpmoc, this did a little better.  

As against the IPO price of Rs.280/share, the stock got listed on the BSE at Rs.291 and NSE price of Rs.294.

The Rs.1,641-crore IPO  was subscribed 1.57 times. The lion’s share of the IPO was subscribed by QIB at 4.65 times, NIIs at 1.11 times and retail investors at 3%.

In our New Issue Analysis we had said, “While company’s portfolio of asset and operating profit is strong, the risk-reward is not favourable, given the negatives highlighted above. In such uncertain times, one is better-off avoiding aggressively priced midcaps and instead look to accumulate large caps in the secondary market. Hence, one can give this IPO a miss.”

Popular Comments

No comment posted for this article.