Two bumper debuts today; its like The Archies and Jawaan releasing on the same day!
First, DOMS Industries – as against the IPO price of Rs.790, it got listed on the BSE and NSE at Rs.1400, a premium of 77%. With the IPO getting subscribed over 92x, this super lisitng comes as no surprise.
Our Verdict for this IPO had been - Strong financial track record makes company fundamentals attractive. Hence, we recommend ‘applying’ in the IPO, for both listing gains and long-term holding.
The other new listing was of India Shelter Finance. As against the IPO price of Rs.493, the stock got listed on the NSE at Rs.620 and at Rs.612.70 on the BSE. The IPO was subscribed almost 37x.
Our Verdict for the IPO had been - Other IPOs and secondary market stocks look more promising. Hence, one can ‘skip’ this IPO of India Shelter.