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HDFC Securities sees good demand for IL&FS Trans IPO
HDFC Securities has come out with a research note on IL&FS Transportation Networks' (ITNL) IPO. The broking firm says, medium term investors could hold (or re-enter the stock at dips) for medium term gains.
HDFC Securities has come out with a research note on IL&FS Transportation Networks' (ITNL) IPO. The broking firm says, medium term investors could hold (or re-enter the stock at dips) for medium term gains.
The IPO of ITNL will be opened till March 15 and has been fully subscribed. The company plans to raise upto Rs 700 crore through its IPO. The price band is at Rs 242-258 per share.
The report says, "The pricing of the issue seems competitive (though not cheap) compared to the other listed player i.e. IRB Infra. Given the strong promoter background and support, well entrenched position of ITNL in the road space and sustained Govt focus on development of infrastructure in India, ITNL provides a good vehicle to ride on the infra boom in India. As there are not too many similar listed players in India, there could be a good amount of demand in the issue and post listing from institutional players. This could result in listing gains (provided the markets have not fallen sharply in the meanwhile) and even medium term investors could hold (or re-enter the stock at dips) for medium term gains."
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