MUMBAI : The investor reception to a few points that listed on Tuesday was combined; whereas Motisons Jewellers Ltd made a stellar debut, Suraj Estates Ltd and Muthoot Microfin elicited a tepid response.
Motisons Jewellers, a diamond and gold jewelry retailer, listed at ₹ 109 on the National Stock Exchange (NSE)—a staggering 98.18% premium to its subject worth of ₹
It continued to climb, reaching an intraday excessive of ₹ 109.8, earlier than settling at ₹ 103.55 on the NSE. The overwhelming demand for Motisons Jewellers shares confirmed up in an oversubscription of 159.6 instances.
The retail portion was bid 122 instances.
In distinction, Muthoot Microfin, a microfinance lender, found its debut day.
Its shares listed at ₹ 275.30 on the NSE—a disappointing 5.39% low cost to the problem worth of ₹
It briefly touched an intraday excessive of ₹ 281 earlier than settling at ₹ 266.15, down 8.45% on the NSE. This muted response got here as a shock contemplating the corporate's strong subscription of 11.5 instances. However, the retail portion was bid 7.6 instances
Analysts attribute this disparity to year-end revenue reserving, with traders trying to safe beneficial properties earlier than coming into the new yr.
“There seems to be a development of revenue reserving amongst many IPOs, with traders opting to safe their beneficial properties as we enter the new yr. The focus appears to be extra on revenue realization slightly than contemporary shopping for in these IPOs,” said Kranthi Bathini, director of Equity Strategy at WealthMills Securities Pvt. Ltd.
Suraj Estate Developers Ltd, a real estate developer, also faced investor skepticism on its debut.
Its shares listed at ₹ 340 on the NSE, marking a 5.55% decline compared to the issue price of ₹ 360. It reached an intraday high of ₹ 354.45 before settling at ₹ 334.50, a discount of 7% to the issue price.
While the issue was subscribed 15.6 times, investors copped out at listing.
Milestone Alert!
Livemint tops charts because the quickest rising information web site on this planet ? Click here to know extra.
Unlock a world of Benefits! From insightful newsletters to real-time inventory monitoring, breaking information and a customized newsfeed – it is all right here, only a click on away! Login Now!
More
Less
Published: 27 Dec 2023, 12:35 AM IST
Source link