Its been a good listing for investors who want the IPO market to boom. As per grey market Sheela Foam was not able to perform well and ever retail portion was not good enough but today Sheela Foam started well with the listing. The listing was at Rs.860 – 18% above issue price of Rs.730. It was a good demand for this stock shows at the close as well. The stock was close around 41% high at Rs.1032 which was on the higher price band.
Sheela Foam shows that even in choppy market one can expect a good listing but it was a strong performance by Sheela Foam. Around 3.62 million shares changed hands on the counter on the BSE and NSE.
Sheela Foam was subscribed 5 times while QIB was the highest subscriber in this IPO. Sheela Foam grey market went down on the day when RBI did not change repo rate still they shown good way to the investors.
At last investors got good amount on the IPO as they got 41%. It might give more returns if you hold for a long term. As analyst are positive on this stock though it was on a higher price band.
