Please Fill Up Your Company Details And Your Designation

Update Your Profile
 
Your email ID :  
     
Password :  
     
          
New user? Create an account               Forgot password?
     
 

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

L&T Finance Holdings likely to ....

L&T Finance Holdings likely to list at a discount over volatile stock markets

Volatile markets and global financial woes may play spoilsport with the debut of L&T Finance Holdings on the bourses on Friday. If the grey market pricing is anything to go by, the unit of engineering behemoth L&T is likely to list at a discount. L&T Finance Holdings had fixed its issue price at 52 a share, while the price range for the public offering was at 51-59 a share.
"The stock is currently trading at 1-2 discount in the grey market," a trader said, adding, interest in the stock is muted as there is no demand for this kind of paper. "There are only sellers at this counter," the trader told ET on condition of anonymity. "There is also a perception that financial institutions may not come in to support the stock given the perception that it is steeply valued vis-a-vis some of its listed peers."
"The markets are in an upheaval and expensive issues don't seem to do too well on listing, unless they come from a different category where friendly intermediaries are involved," said Arun Kejriwal, director, KRIS.
Despite the fact that it was one of the largest initial share sales in the year to date and was viewed as a barometer for primary market appetite, L&T Finance's IPO was covered just about 5.2 times. The company, which was looking to encash goodwill of 61 years, was unable to price the issue at the top end of the indicative price band given the market sentiment. The benchmark Sensex has lost more than 6.2% or 1138 points since the issue closed its subscription on July 29.

Market participants felt that though the issue was priced at the lower end of the indicated price band, the offer was still not cheap.

 
     
 
   
      More...
 
 
 
     
 
 
     


 
 
FORUM  
Are Indian Brands
Globally competitive
    
   
 
 
 
 
     
  Lol  
More >>