Muthoot Finance struggles at Listing today…hovering around Issue Price of Rs 175…Hold for now

We are approaching 11.30 am and Muthoot Finance has listed today and is struggling to stay over it’s IPO Price of Rs 175 after opening at 198 on BSE…Low recorded is Rs 170 and it’s currently threatening to break this Low too….Nearly Nine Million Shares have been traded on BSE till now at an average of just above Rs 177

My advice to allottees is to hold for now…the worried sentiment is playing it’s game all around with dull quotes and trades on nearly all scrips

 

 

2 thoughts on “Muthoot Finance struggles at Listing today…hovering around Issue Price of Rs 175…Hold for now

  1. Picked up a good chunk @ 168!
    Never thought i’d see such a low quote. Thats the markets for you – always yo-yoing between pessimism & optimism & i bought from a few pessimists!.
    I’m confident Gold loan business can comfortably grow @ 30% CAGR for the next few years & the market leader(Muthoot) should be able to grow faster.
    Regarding low listing HNI portion was oversubscribed by 60+ times & for HNI’s to break even they needed Muthoot to list at 205+ so they are liquidatin their allotment & hence the low prices! Thank you HNI’s/sellers/pessimists!

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