Half a dozen companies are getting listed in the Indian equity market this week. Muthoot Microfin, Suraj Real Estate Developers, and Motisons Jewellers are getting listed on Tuesday. Meanwhile, Credo Brands, Happy Forgings, and RBZ Jewellers will make their market debuts on Wednesday, and Azad Engineering will make its debut on Thursday. Together, these companies have raised Rs 3,910 crore and have garnered subscriptions between 12 and 173 times. Analysts said the returns, despite the subscription, could be muted as market activity will be a bit tepid during the holiday season.
“There is a fear of missing out amongst investors whenever the Initial Public Offering (IPO) market is buoyant. And they end up applying to whichever IPO comes. The shares getting listed this week are a mixed bag. Two of them were low-sized issues. Both will trade in the trade-to-trade category; one cannot expect much from them,” said Arun Kejriwal, founder of Kejriwal Research and Investment Services.
There will be a discrepancy between the grey market premium and listing gains this time, Kejriwal added.
First Published: Dec 25 2023 | 8:27 PM IST