Sanju Verma, Head-Institutional Broking of HDFC Securities is of the view that given the excellent fundamentals, IDEA should trade at far higher multiples because there is very little to choose from in the telecom space.

Verma told CNBC-TV18, "I am slightly disappointed with the listing of IDEA Cellular -perhaps it has to do with the fact that the sentiment is slightly skittish. But given the excellent fundamentals, it should trade at far higher multiples because there is very little to choose from the telecom space.

Bharti and Reliance Communication to some extent have run their course in terms of an appreciation and people were eagerly awaiting this one (IDEA). So I think that once it get brokered properly people will realize that it trades at a steep discount to Bharti and will start accumulating it. So I am not particularly disappointed but I had anticipated it to open far stronger."