Home First debuted today on the BSE at Rs.612.15 and at Rs.618.80 on the NSE v/s the IPO price of Rs.518. And on the BSE, it further went up to Rs.639.50 though it is now trading at Rs.569 levels.
The IPO, which was open between January 21-January 25 was subscribed 27 times and the first day itself, it was fully subscribed.
The lion’s share was once again taken by institutional investors, subscribing 52.53 times, followed by HNIs at 39 times and retail investors at 6.59 times.
Our conclusion in the New Issue Analysis, “We are unable to find any justification for such exorbitant pricing and hence recommend an ‘avoid’ for such bull-market induced high-priced stories.”