IPO Listings Today: Shares of Tata Technologies, Gandhar Oil Refinery and Fedbank Financial Services were on Thursday listed on the BSE and the NSE. While the first two IPOs have given blockbuster returns to investors up to 140 per cent; the third one, Fedbank, witnessed a muted listing at a discount.
Apart from these, Rockingdeals Circular Economy SME IPO was also listed on Thursday on the NSE SME, posting a whopping 115 per cent listing gain.
Tata Technologies posted 140 per cent listing gains as compared to its IPO listing price, Gandhar Oil Refinery posts 75 per cent profit, and Rockingdeals Circular SME IPO records 115 per cent gain. Here’s what Experts suggest now:
Tata Technologies IPO: What Do Analysts Suggest?
Tata Technologies’ shares were listed at Rs 1,200, a premium of 140 per cent, over its issue price Rs 500 on the NSE. They were listed at a premium of 140 per cent at Rs 1199.95 against the same issue price on the BSE.
Shivani Nyati, head of wealth at Swastika Investmart Ltd, said, “Tata Technologies, a global leader in engineering services, made its much-anticipated stock market debut today, listing at an impressive blockbuster premium of 140 per cent over its IPO price of Rs 500 per share.”
She said the overwhelming response to the IPO was evident in its staggering oversubscription of 69.43 times. This robust investor interest reflects the company’s strong fundamentals and promising growth prospects and of course the legacy of the Tata group. “The listing of Tata Technologies is a positive development for the company and the engineering services sector. Investors who participated in the IPO should consider holding on to their shares for the long term, as the company is well-positioned for sustained growth.”
Gandhar Oil Refinery IPO: What Do Analysts Suggest?
Gandhar Oil Refinery (India) Ltd’s shares were listed at Rs 295.40 apiece on the BSE, which was 75 per cent higher than its issue price of Rs 169. The shares were listed at Rs 298 on the NSE.
Prashanth Tapse, senior VP (research) at Mehta Equities Ltd, said, “This is a solid listing gain above our expectation for a leading manufacturer of white oils, Gandhar Oil. It is mainly on the back of reasonable IPO valuation when compared to its peers which were trading high.”
Post listing, the valuation gap has narrowed to Gandhar peers and, hence, we expect limited upside from the current levels. “We recommended allotted investors to book listing day profits, which is over and above our expectations,” he said.
Fedbank Financial Services IPO: What Do Analysts Suggest?
Fedbank Financial Services’ shares were on Thursday listed at a discount of Rs 2.25 or 1.60 per cent at Rs 137 on the BSE against the issue price of Rs 140. However, Fedbank Financial Services’ shares later recovered and were trading in the green with 5 per cent gains during the early trade.
Shivani Nyati, head of wealth at Swastika Investmart, said, “The only disappointing debut on the stock markets today was of Fedbank Finacial services. It got listed at Rs 138 per share, which was almost a flat listing over its IPO price of Rs 140.”
She said the lacklustre listing was in line with the pre-listing sentiment, which was dampened by a weak grey market premium and a relatively tepid investor response.
“Given this subdued listing, we recommend a neutral stance on Fedbank Financial Services Limited,” Nyati added.
Fedbank Financial Services IPO, which was opened for public subscription between November 22 and November 24, received a 2.24 times subscription. The price range for the offer stood at Rs 133-140 a share.
Rockingdeals Circular SME IPO
B2B re-commerce company Rockingdeals Circular Economy Ltd also made a stellar stock market debut, with its shares posting nearly 115 per cent listing gains on the NSE SME. The company’s shares, which listed at Rs 300 per share on the NSE SME on Thursday as against the IPO issue price of 140, rose further during the early trade.
So, among the 4 IPOs that were listed today, Fedbank Financial Services IPO was the only disappointing debut on the stock markets.
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