Shares in entertainment company Shemraoo Entertainment got listed at Rs 171 very close to the upper price bank of its IPO.
The company had come out with a public issue of shares last month with a price band between Rs 155 and Rs 170.
Many brokers had a mixed opinion on investing in the stock.
IDBI Capital had advised investors to 'Avoid' the issue. According to the brokerage, Shemaroo at its price band of Rs155-170 per share will trade at a valuations of 15-17x FY14 EPS (post dilution), which is higher than its comparable Eros International trading at 11x FY14 EPS.
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