I'Bulls Power to list tomorrow, what do experts forecast?

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I'Bulls Power to list tomorrow, what do experts forecast?

Indiabulls Power, a subsidiary of Indiabulls Real Estate will list its equity shares on the exchanges on October 30, 2009. Moneycontrol.com talked to experts that what would be the listing price for Indiabulls Power.

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Indiabulls Power, a subsidiary of Indiabulls Real Estate, will list its equity shares on the bourses tomorrow. The company has fixed its initial public offering (IPO) price at Rs 45 per share, at the higher end of the price band.

So, where do experts see the stock listing tomorrow? Experts do not see a gung-ho listing for the stock even though it was subscribed nearly 22 times. The issue also saw huge interest from qualified institutional investors, with the QIB portion subscribed 40 times.

Investment Advisor, SP Tulsian said the stock may list below its issue price of Rs 45 and may even go dip below Rs 42. However, Manisha Bhatt of Prabhudas Lilladher and Avinash Gorakshakar, Head of Research, Reliance Money, expect the stock to list around Rs 45-50.

The issue had opened for subcription during October 12-15 with 39.07 crore equity shares shares, including a green shoe option of retaining 5.09 crore equity shares and the company raised over Rs 1,700 crore.

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