Stove Kraft Day 3 Subscription By Keshav Lahoti, Angel Broking
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Below are Views On Stove Kraft Day 3 Subscription By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd
Stove Kraft IPO non institutional and retail portion was most subscribed by 32.7 and 26.0 times respectively on the final day of issue as they just have a 15% and 10% allocation quota assigned to them respectively. QIB was just subscribed by 8 times as they were allocated a very high 75% quota. IPO was subscribed by 18 times. Stove Kraft GMP has reduced, now it is in the range of 15-20%. We think investors can give a miss to this issue. In case someone applied for this issue, if shares are allotted to them, we advise them to sell shares on the day one of the listing.
Above views are of the author and not of the website kindly read disclaimer
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
