Robust retail participation in IPOs and huge listing gains were among the major highlights of the previous financial year
The issue will be a complete offer for sale of 1,15,08,704 equity shares of face value of Rs 5 each by promoter and investor selling shareholders.
The repayment of debt will result in significant savings in the finance cost.
The Rs 2,500-crore Macrotech Developers IPO received bids for 1,26,56,070 shares against 3,64,18,219 shares on offer
The company believes a significant driver of recent revenue growth momentum in India has been a meaningful shift in consumer demand from the unorganis
The issue received bids for 95,91,420 shares against 3,64,18,219 shares on offer, as per NSE data
Investors should book listing gains as the second wave of COVID-19 can further add pressure to already stressed finances.
In the grey market, the issue is quoting at Rs 5-6 premium while analysts have raised concerns about high leverage on the balance sheet
On the NSE, Rakesh Jhunjhunwala backed Barbeque Nation Hospitality opened at Rs 489.85, implying a discount of 2.03%.
Fundamentally strong stocks make for sound long-term investing. Track record through market cycles, not IPO greed, should be the mantra