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Below are Quote on India Pesticides IPO Listing gain expectation by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd   

What should investors to expect from the Listing of India Pesticides Limited IPO?

India Pesticides Limited IPO will get listed on the bourses on 5^th July 2021 and it is expected that investors will receive shares in their de-mat accounts on 2^nd July 2021. We have seen good listing for several IPOs in the last two weeks and the expectation for Indian Pesticides Limited is also the same. If we look at the grey market premium of IPL IPO, it has been volatile since last week and currently it is quoting at ₹60 as per the different sources. If we look at the fundamentals and valuation of stock, fundamentals look good and based on FY-2021 P/E of 24.5x and EV/EBITDA of 18.2x at the upper band of the IPO price, valuations are slightly better than the peer companies. Similarly, the company has one of the best ROE & ROCE of 34% and 45% respectively. We expect listing to be at a premium of 15%-25%. We have assigned a “Subscribe” recommendation to the issue. We suggest short term investors to book at levels of ₹350.

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