The recently listed companies undoubtedly bring their own unique moats to investors. However, somewhere while appreciating the strengths of the businesses, investors have taken their eyes off valuations.
After mopping up the shares in the grey market, on listing day, the said operator buys the big quantity from the open market as well, and virtually buys entire allotment of HNI category and part of retail category as many of them apply for listing gains only.
Second largest depository CDSL, which was the first one among depositories to list on exchanges, shot up more than 200 percent (from issue price) since the listing on June 30.
Ashwani Gujral of ashwanigujral.com recommends buying ICICI Bank, Interglobe Aviation, Gruh Finance, Uflex and Equitas Holdings.
CDSL touched an intraday high of Rs 269.95 (up 81.17 percent) but did not fall below its pre-opening price of Rs 250.
According to sources, the grey market premium for the stock is around Rs 90-100, which indicated that the listing may be around Rs 225-250 per share.
The bumper listing was on expected lines as the issue has overwhelming response, oversubscribing 170 times. The grey market premium also indicated the strong listing.
The initial public offering of CDSL has received tremendous response from all type of investors.
The initial public offering (IPO) of Central Depository Services (India) Ltd (CDSL) was oversubscribed 7.55 times on the second day of bidding today, helped by strong investor response.
The initial public offering (IPO) of Central Depository Services (India) Ltd (CDSL) was oversubscribed 2 times on the first day of the three-day bidding process today.
Aditya Birla Money has come out with its report on CDSL. The research firm has recommended to "Subscribe " the IPO in its research report as on June 16, 2017.
Motilal Oswal has come out with its report on CDSL. The research firm has recommended to "Subscribe " the IPO in its research report as on June 15, 2017.
The IPO, to raise Rs 524 crore, received bids for 2,51,65,900 shares against the total issue size of 2,48,27,046 shares, data available with the NSE till 1430 hours showed.
CDSL is likely that the listing may also be at a premium to the offer price. However, it is difficult to say if the stock will be a consistent outperformer subsequently, Centrum said.
The company is coming out with an offer for sale of 3.5 crore equity shares in the price band of Rs 145 – Rs 149 per share. The issue will be open to subscription from June 19 to June 21.
The bidding in BSE-promoted CDSL's IPO will begin on June 19 and close on June 21, while that of GTPL Hathway, part of Hathway Cable and Datacom Ltd, will be open for public subscription from June 21-23.
Brokerage houses are recommending subscription to the issue as its looks attractive with long term perspective.
As many as 1.03 crore equity shares have been issued to Abu Dhabi Investment Authority – Behave, FIL Investments (Mauritius) Ltd, Goldman Sachs India Ltd, SBI Magnum Tax Gain Scheme, DSP Blackrock Equity Savings Fund and other anchor investors.
KR Choksey has come out with its report on CDSL. The research firm has recommended to "Subscribe " the IPO in its research report as on June 13, 2017.
GEPL Capital has come out with its report on CDSL. The research firm has recommended to "Subscribe " the IPO in its research report as on June 13, 2017.
Norms laid down by the regulator in 2012 require exchanges to cut stake in depositories to a maximum of 24 percent.
The amount raised from mainboard IPO’s almost doubled in the financial year 2017 to Rs 28,211 crore, compared with Rs 14,500 crore raised in the FY16, and Rs 2,770 crore raised in FY15.
These firms are Avenue Supermarts, owner and operator of supermarket retail chain D-Mart; Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel; Shankara Building Product; BSE-promoted CDSL; and test-prep player C L Educate.
In 2015, about 16.7 lakh investor accounts were added in total on the National Securities Depository Ltd (NSDL) and the Central Depository Services Ltd (CDSL).
Leading securities depository CDSL and media house Jagran group's FM radio unit Music Broadcast Ltd have received capital markets regulator Sebi's approval for initial public offerings.