December 20, 2023
New Delhi, India
IPO Highlights
Investors are eagerly eyeing the upcoming initial public offerings (IPOs) of Muthoot Microfin, Happy Forgings, and Azad Engineering as the grey market premiums (GMP) for these stocks surge, indicating strong market interest.
Muthoot Microfin: A Rural Success Story Grey Market Premium: Over 12% Subscription Details: 4x oversubscribed, with robust demand from retail investors and high net-worth individuals (HNIs). Analyst Insight: Subscribe rating due to stable financials, rural focus, and synergies with the Muthoot Pappachan Group.
Happy Forgings: Riding High on Opportunities Grey Market Premium: Over 52.24% Subscription Details: 3.5x oversubscribed, driven by significant retail and HNI participation. Analyst Insight: Subscribe rating with emphasis on long-term global opportunities, though concerns arise about potential impacts from EV penetration.
Check Here: Happy Forgings IPO: Subscribed 1.33 Times on Day One, Eyes ₹1,008.59 Crore Raise
Also Read: Indian Rupee Softens Despite Weaker Dollar; RBI Challenges IMF’s Intervention Claims
Azad Engineering: Balancing Act with High Valuation Grey Market Premium: 84% Subscription Details: 59% subscribed, with strong retail and HNI demand. Analyst Insight: Subscribe for listing gains, but caution about high valuation at 292.7x P/E compared to peers.
Conclusion: As these IPOs generate buzz in the grey market, investors are advised to carefully consider the subscription details, analyst recommendations, and market conditions before making investment decisions. While all three IPOs show promise, cautious optimism is advised, especially with regard to valuation concerns.
Disclaimer:
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