Key points
IPO Open Date~ Oct 28, 2021
IPO Close Date~ Nov 1, 2021
IPO Listing Date~ Nov 11, 2021
IPO Price~ ₹1085 to ₹1125 per equity share
Minimum application amount~ ₹13,500
Maximum application amount~ ₹189,000
Summary of financial Information (Restated Consolidated)
Loss making to marginal profitable company
Strengths:
1. Promoted by Nayar Family. Yes, Sanjay Nayar of KKR. Sanjay Nayar is the Chairman & CEO of the Indian arm of the private equity giant~ KKR.
Sanjay Knows this game of private equity & IPO like back of his hand. He has had many mega exits for KKR in last 10 years.
2. Lead managers
Because of Sanjay’s connections, lead managers are top banks with awesome track record of IPO listing.
Below is the list of lead managers:
1. Bofa Securities India Ltd
2. Citigroup Global Markets India Private Ltd
3. ICICI Securities Ltd
4. JM Financial Consultants Private Ltd
5. Kotak Mahindra Capital Company Limited
6. Morgan Stanley India Company Private Ltd
Lead managers are known for mega IPOs.
For example~ Morgan Stanley, BOFA, Citi were lead manager’s for Zomato, HDFC AMC & HDFC Life among others. That’s a icing on the cake for an IPO.
Things to consider before applying:
Today is the last day & IPO is already oversubscribed, So chances of allotment itself are very low. Also money will be stuck till refund which is on Nov 9,2021.
In spite of all the hype, employees have not shown much enthusiasm, that’s a sizeable flag for long term but not for listing gains.
Below is the subscription so far: Category Subscription (times)
As a matter of fact; in many overhyped IPOs like Reliance power, overall market sentiment is prime for listing gains.
As yet, Nifty is in a back & forth momentum. Mid cap and small cap stocks have taken beating, left right & centre.
If market tanks further, IPO will tank on the very first minute of listing.
Overall a good bet if you are into the IPO game & are applying in many IPOs as a type of trade & you have the discipline to square off at the first hour of listing, even if at a damage.
Remember~ Hope is biggest enemy of IPO trader.
Position sizing in IPO is crucial, yes in IPO too.
So be ready for 30% dip from listing price [If any], that’s 3K loss per lot. Do consider your risk appetite before hopping right in.
If you have a capital of 1~2 Lacs, Just apply for 1 lot.
Capital protection is the pointer here, Allotment is secondary.
Also so many more IPOs are coming in next 10 days including Paytm, You need to keep the powder dry.
Happy Listing. Cheers!