Shares of Paradip Phosphate are going to be listed on BSE and NSE today. According to the information available on BSE websiteThe equity shares of Paradip Phosphates Limited will be listed and admitted for transaction on the Exchange in the ‘B’ group of securities in the Special Pre-Open Session (SPOS). According to stock market experts, despite being offered at attractive valuations, the IPO of Paradip Phosphates has received a sluggish response from investors. He said that the market sentiment is bearish and hence the stock may open today. He said that the shares of Paradip Phosphate may be listed around 45 to 52, Depends on the mood of the market.
Feather Paradip Phosphate IPO Listing PriceRavi Singhal, Vice Chairman, GCL Securities said, “Pardeep Phosphate shares are expected to open at par. IPO is expected to open around from 49 52 while Paradip shares in weak opening position[ Phosphates Limited may list around ₹44 to ₹46 levels.” However, he maintained that stock looks promising from medium to long term perspective and one can hold the stock after listing for 6 months to 12 months.
Speaking on Paradeep IPO listing, Abhay Doshi, Founder at UnlistedArena.com said, “Alike other IPOs, Paradeep Phosphates limited too got a dull response from the market participants due to continuous sell off in the broader market. However, Paradeep Phosphates limited was priced reasonably compared to its peers. Thus, looking at market conditions, it seems, Paradeep Phosphates limited too shall list at par around its issue price.”
Expecting Paradeep Phosphates shares to list around the issue price, Manoj Dalmia, Vice President & Head of Research at Share India said, “The public issue may list around its issue price but considering attractive valuations and reasonable pricing, it is worth holding the stock for long term.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.