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India Pesticides IPO Listing gain expectation by Mr. Yash Gupta, Angel Broking Ltd
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Below are Quote on India Pesticides IPO Listing gain expectation by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Last day to apply for India Pesticides Limited’s IPO should retail investors to apply for the IPO?
India Pesticides Limited’s IPO is getting good response from investors.
India Pesticides Limited’s (IPL) IPO received overall subscription of more than 6 times, with Retail individual category being over-subscribed by more than 9 times as of 1:50pm on 3rd day while Qualified institutional and Non-institution categories have been subscribed 3.6x and 4.25x respectively. Company has already received good response from anchor investors, raising ₹240 Crores from anchor investors.
If we look at the listing gain opportunity in this IPO, we expect a gains of around 10%-20% as the company is fundamentally strong and available at better valuation than its peers.
We have assigned a “Subscribe” rating to India Pesticides Limited’s IPO.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
