Paradeep Phosphates Shares May Have A ‘par’ Debut, Say Experts
Paradeep Phosphates shares are going to list on BSE and NSE today. As per the information available on BSE website, the equity shares of Paradeep Phosphates Limited shall be listed and admitted to dealings on the exchange in the list of ‘B’ group of securities in Special Pre-open Session (SPOS). According to stock market experts, Paradeep Phosphates IPO received dull response from investors despite being offered at an attractive valuations. They said that market sentiments are bearish and hence the stock may have a par debut today. They said that Paradeep Phosphates shares may list around ₹45 to ₹52, depending upon the market mood.
On Paradeep Phosphates IPO listing price, Ravi Singhal, Vice Chairman at GCL Securities said, “Shares of Paradeep Phosphates are expected to open at par. However, much will depend upon the kind of opening Indian market gets. In case of positive opening, we are expecting that Paradeep Phosphates IPO may open around ₹49 to ₹52 whereas in the case of weak opening, shares of Paradeep[ 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.