Craftsman Auto lists weak

about 2 years ago
No Image

Craftsman Automation had a tepid listing today – as against the IPO price of Rs.1490, the stock got listed on the BSE at Rs.1350 and Rs.1359 on the NSE. The stock went up on the BSE to Rs.1487.80 and is now trading at Rs.1453 levels.

The stock was expected to have a weak listing as the response to the IPO was not exactly great. The Rs.824 crore IPO was subscribed 3.82 times, QIBs by 5.21 times subscription, HNIs by 2.84 times and that of retail 3.44 times.

Based on the capex revival cycle, we had concluded in our New Issue Analysis, “Expected revival in capex cycle, high gross margin business, quality management and discount valuation to peer, make this IPO attractive. Hence, we recommend a subscribe to the IPO.”

Articles you may also like

Popular Comments