IRCTC has a dominant market share of 72 percent in Railway E-Ticketing bookings.
Brokerages have expressed subdued outlook on the issue despite of the fact that a wide range of products is the strength of the company.
Most analysts are positive and have given a buy recommendation for the IPO, thanks to its reasonable valuation and competitive strength of the company
The company's IPO, aimed at raising Rs 3,125 crore from capital market, was subscribed 92 percent.
Astha Jain, Senior Research Analyst at Hem Securities expects Spandana Sphoorty not to list at premium to issue price
Prashanth Tapse of Mehta Equities expects a fruitful listing with a minimum premium around 25 percent on the issue price of Rs 745, given limited retail portion for allotment and robust response on overall basis.
While assigning three-out-of-five rating to the issue, Centrum Wealth also suggests investors can subscribe to the issue from a long term perspective. It believes it is fairly priced.
"SSFL's successful exit from corporate debt restructuring (CDR) mechanism in March 2017 (well ahead of scheduled date of Mar’18), consistent profits along with a healthy asset book, builds confidence in the prospects," Centrum Capital said.
Most analysts expect IndiaMART to list with at least 10 percent premium over its issue price given strong demand and allotment ratio
The response to anchor book was quite strong but brokerages are mixed in their opinion on the issue
Anand Rathi said higher multiple is justified given the company’s ability to grow profitably and command better return ratios. Hence it recommended subscribing the issue
Polycab has one of the most diversified product portfolios when compared to their peers and it is strongly placed in wires and cables space with healthy market share in the organised space.
All analysts are betting on the stock for long term given strong brand name, wide geographic coverage, rising healthcare sector and expected strong earnings in coming years. They expect double digit returns in coming years
Looking after strong fundamentals of the company along with the healthy growth prospects of sector, Hem recommends subscribing issue.
Considering its better operating metrics, attractive valuations which are justifiable to listed peer Dr Lal Pathlabs, brokerages advise subscribing the issue for listing gains as well as for long term
Being a government agency, it passes on the risk to the developer and the Railways, which is a key area of concern for most project execution companies
Given its strong orderbook, attractive valuations, strong execution capabilities, robust balance sheet, brokerages advised subscribing the issue.
The listing of Garden Reach Shipbuilders is also expected to be tepid, not only due to current bearish market scenario but also because of weak operational performance, experts said
Due to current market conditions, experts advise selling Aavas Financiers on listing, even if it lists below Rs 800 per share, as it looks overvalued at the current juncture
Brokerage houses advised either subscribing with caution or said high risk appetite investor may opt this public issue due to current equity market conditions and dependency of the company on limited number of large customers for revenue.
IRCON International has order book of Rs 22,407 crore as of March 2018, which is 5.6 times of FY18 revenue which also gives good revenue visibility for the company.
Majority of brokerage houses advised subscribing to Aavas Financiers issue with long-term perspective, but not for listing gains as the issue is fairly priced and FY19 earnings multiple do not leave much upside in the near term.
Garden Reach is a shipbuilding company in India under the administrative control of the MoD and primarily adhere to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard
At the higher price band of Rs 475 per share, IRCON's share is valued at a P/E multiple of 10.9x (to its restated FY18 EPS of Rs 43.8), which shows the issue is attractively priced at current levels, brokerages said.