eClerx Services likely to list around Rs 400: Experts

eClerx Services, provides data analytics and customised process solutions to global enterprise clients, is likely to list at around Rs 400-500, according to experts. They also advised that one can remain invested in the stock.

R S Iyer of K R Choksey Securities said, "eclerx Services is likely to open around Rs 400-500. One should book profits above Rs 450."

"Its deep domain knowledge, unique business model, proven delivery model, ever increasing clientele base, consistent Y-O-Y growth over the last four years will drive the growth of eClerx Services Limited. Investors can remain invested in the stock with a medium to long term view", Arpit Agrawal Head of Research, Arihant capital markets said.

According to Investment Advisor, S P Tulsian, "eClerx Services is likely to get listed on Monday at Rs 390 as against the IPO price of Rs 315 per share. Profit booking is advised upto Rs 375."

It had entered capital market with an initial public offering of approx. 37.41 lakh shares of Rs 10 each and raised more than 1000 million. The issue was subscribed 30 times. The price band was between Rs 270 and Rs 315 per equity share.

The proceeds of the issue will be used, inter alia, to fund acquisitions; make infrastructure investments; set up additional facilities and avail of listing benefits.
 
The Company's portfolio of services comprises data analytics, operations management, data audits, metrics management and reporting services.