In a successful debut on D-Street, two out of three public issues delivered impressive listing gains for investors. Tata Technologies stock saw a 159% surge in early trade, exceeding expectations in the grey market. Similarly, Gandhar Oil also surpassed grey market projections with a 55% listing gain.
Fedbank Financial Services, on the other hand, saw minimal movement with only 0.7% listing gains on its debut. The IPO of Flair Writing, which was scheduled to open with the previous issues, will now list on December 1.
Here is a summary of the performance of these companies:
– Tata Technologies: 159% early listing gains, 75% grey market premium, market cap of ₹52,734 crore, and a subscription rate of 69x
– Gandhar Oil: 55% early listing gains, 44% grey market premium, market cap of ₹2,573 crore, and a subscription rate of 64x
– Fedbank Financial Services: 0.7% early listing gains, no data on grey market premium, market cap of ₹5,161 crore, and a subscription rate of 2.2x
– IREDA: 87% early listing gains, 38% grey market premium, market cap of ₹16,123 crore, and a subscription rate of 38.8%
Analysts and experts are advising investors on their next steps for these companies. They predict double-digit listing gains for all companies except Fedbank Financial Services. Tata Technologies, in particular, is expected to provide substantial premium listing gains due to its strong business model and high demand in the outsourcing sector.
Prashanth Tapse, a research analyst and senior VP of research at Mehta Equities, recommends investors to book 50% profits on Tata Technologies and hold the rest for the long-term. Similarly, Rajan Shinde, a research analyst at Mehta Equities, advises investors to book listing day profits on Gandhar Oil and consider accumulating on dips post-listing.
As for Flair Writing, it holds potential for both short-term and long-term investors. Those seeing over 25% listing gains can choose to book profits, while long-term investors have the option to hold or accumulate on dips.