INSUBCONTINENT EXCLUSIVE:
Investors of Prince Pipes and Fittings initial public offering (IPO) may be staring at a tepid listing
Going by trends in the market for unofficial trading of unlisted stocks, Prince Pipes could end up being the last and fifth issue of
Calendar 2019 to list at a discount.
The stock is expected to be listed on the bourses on December 31.
Grey market transactions signal tepid
demand for shares of Prince Pipes, which are currently trading at a discount of up to Rs 12 a share
If these trends prevail till the listing day, the stock could debut at a discount of up to 7 per cent to the issue price.
Dinesh Gupta,
Partner at UnlistedZone, who deals in unlisted stocks, said Prince Pipes shares are trading in the negative ahead of their stock market
debuting at a premium and four listing at a discount to their issue prices.
Issues in the latter category included Spandana Sphoorty
Financial, MSTC, Sterling and Wilson Solar and Xelpmoc Design - Tech
Prince Pipes could be the fifth.
Sagar Shah of Ascent Wealth said the Prince Pipes shares are trading at zero premium
It was subscribed 2.22 times during the book-building process
The portion reserved for retail investors was subscribed 1.90 times, the quota for non-institutional investors was subscribed 1.21 times and
the total issue size of Rs 350 crore, excluding the anchor portion, making it the last successful issue of 2019.
Santosh Meena, Senior
Analyst at TradingBells, said despite fair valuation and the ongoing bull run in domestic stocks, Prince pipes IPO failed to draw investor
It is tough to predict the exact listing for a small IPO like Prince Pipes, but looking at its subscription figure, it might see a tepid
each of which saw massive subscriptions and strong listing gains on the bourses.
IRCTC was subscribed 112 times and it debuted at a 101 per
cent premium while Ujjivan Small Finance Bank was subscribed 166 times and got listed at a 57 per cent premium over issue price
CSB Bank was subscribed 87 times and it enhanced investor wealth by 41 per cent on debut