3 Big IPO Launches This Week For Indian Investors: Check The Companies & Their Business Model – Trak.in – Indian Business of Tech, Mobile & Startups

2022-06-01 02:15:32 By : Ms. Caroline Lee

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During the week, shares of 3 companies which previously launched their IPO shall be listed on the bourses for secondary market.

A big bang listing gains, given the market conditions as well as grey market premium (GMP) should not be expected.

First in the list is Ethos, which is a luxury watch retailer. eMudhra, which is a certifying authority, shall follow a couple of days later.

A specialty chemical player Aether Industries will make a debut on Friday.

In India Ethos claims to have the largest portfolio of premium and luxury watches and retails to 50 premium and luxury watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, CarlF. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain.

However, given its high valuations, Dalal Street may not bestow it a luxury treatment on Monday.

Dealers in the unlisted or grey market said shares of Ethos were trading at a premium of Rs 20, which on the base of IPO price of Rs 878, reflects negligible listing gains.

Aayush Agrawal, Senior Analyst, Swastika Investmart said that the company does not have a listed peer and despite the prospects being good the valuation demanded is too rich and the current volatile market is not conducive for primary issues with such rich valuations. 

He said that amid improved market sentiments, a positive surprise can’t be ruled out but due to expensive valuations, a tepid listing is expected.

It is in the business of providing Digital Trust Services and Enterprise Solutions to individuals and organisations functioning across industries and it alongwith its shareholders have raised Rs 413 crore from primary markets.

In the range of Rs 243-256 apiece the shares of this company were sold.

As there was hardly any trading happening in the counter, dealers in unlisted market said it was difficult to gauge the possible listing gains of the issue.Though, given the market situation and past trend, a weak listing is expected.

A speciality chemicals manufacturer, the company is the sole manufacturer of some of the chemicals in India such as 4-(2-Methoxyethyl) Phenol (4MEP), 3-Methoxy-2-Methylbenzoyl Chloride (MMBC), Thiophene-2-Ethanol (T2E), Ortho Tolyl Benzo Nitrile (OTBN), N-Octyl-D-Glucamine, Delta-Valerolactone and Bifenthrin Alcohol.

The issue on which the analysts were quit upbeat, failed to get retail investor attention during the bidding process. 

The issue sailed through eventually, all credits to the late surge in applications especially from institutional investors

In the official markets, Aether Industries was trading at a GMP of Rs 29-31 said Dinesh Gupta of Unlisted Zone. 

At the IPO price of Rs 642, this reflects a premium of about 5 per cent, which is not much.

To see if the issue is able hold the premium or increase it further, a lot is depended on the market conditions.

Rohit is a tech and business enthusiast, who is hell bent on scooping out the truth. He loves reading, understanding businesses and decoding startups.

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