Listing of Macrotech Developers Ltd by Mr. Yash Gupta, Angel Broking Ltd
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Below are Views On Listing of Macrotech Developers Limited by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Macrotech Developers Limited to lists today with an issue price of ₹486, we expect listing will be very mutued and the stock may even open at below the issue price. Macrotech developers limited (Lodha developers) haven’t received very good response from retail participation and in the retail category every got the full allotment as only 40% of retail category only got subscribed. Along with this after the IPO market has also corrected heavily. So we suggest retail clients to not buy stock at listing and whoever got the allotment should try to exit it from the IPO. We had given a Neutral rating to this IPO.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
