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What experts say about DB Corp listing?
DB Corp, publisher of Dainik Bhaskar, will list its equity shares on January 6, 2010. It has fixed the issue price at Rs 212 per share for its IPO of 1.81 crore shares.
DB Corp, publisher of Dainik Bhaskar, will list its equity shares on January 6, 2010. It has fixed the issue price at Rs 212 per share for its IPO of 1.81 crore shares.
While answering to Moneycontrol.com about this listing, experts looked confident that the stock will list around Rs 230-240 as against issue price of Rs 212 per share. There were reports that grey market premium was around Rs 25-30.
Manish Bhatt of Prabhudas Lilladher said DB Corp would list around Rs 230-236. "It will go upto Rs 290-292 in the medium term. One can consider buying the stock if it slips to Rs 205-210", he has said.
Investment Advisor, SP Tulsian said DB Corp would see around Rs 235-240 on listing. However, he doesn't see any value in the stock beyond Rs 240.
Looking at the appetite and the company's rapid growth, Avinash Gorakshakar of Reliance Money said DB Corp would list with premium of Rs 25-30 over its issue price of Rs 212. He does not mind buying the stock at around Rs 212-230.
Dipan Mehta, Member BSE/NSE said DB Corp would be a good listing. "It was at a discount to Jagran Prakashan and more or less the profile and profitability and the performance of both these publishing houses are pretty similar. So my sense is that one could get a pop on listing. The issue also by and large had done well, it had decent amount of retail participation. So I think it will act as a good trigger for the entire sector", he has said.
